Nokia rolls out low-priced smartphones to reclaim lost share

Nokia has unveiled lower-priced versions of its Lumia smartphones to shore up its position in the basic handset market, where it has lost share while it focused on developing expensive smartphones, Reuters has reported. The €15 and €65 phones fill the gaps in Nokia’s product line-up between its high-end Lumia devices that run Microsoft software and mid-tier Asha feature phones. The Finnish company hopes the new phones will increase sales in emerging markets and help it regain its once-solid footing at the cheaper end of the market, where it makes the bulk of its handset revenue. Sales of basic phones fell over 20% in 2012 to €9.4bn.