Nokia slashes smartphone price

Nokia has cut the US price of its flagship smartphone in half, barely three months after its launch, in an effort to staunch losses in market share to rivals such as Apple and Samsung Electronics. The cost of the Lumia 900 Windows phone has been reduced to $49.99 from $99 with a two-year agreement, Nokia spokesman Keith Nowak said yesterday. Nowak said the price cut “is part of our ongoing lifecycle management, which is jointly done between Nokia and carrier customers."