Report: Nokia to compete in low-cost market with new models

Nokia is set to unveil a range of low-cost handsets this week in an effort to counter growing competition from Chinese rivals, a company source told Reuters.

The models, scheduled to be launched at Mobile World Congress (MWC) in Barcelona, indicates that Nokia is now willing to expand its portfolio after investing heavily in new high-end smartphones.

The sources said Nokia will introduce cut-price mobile phones aiming to compete with low-end handsets from the likes of Huawei and ZTE, as well as a new, lower-price model of its Lumia smartphone running on Windows Phone 8 software, according to Reuters.

No details on pricing have been leaked, and a company spokesman declined to comment.

Nokia's current Lumia smartphones range from around €200 to over €600 for the top-of-the-range Lumia 920 in many European markets. While these new handsets are starting to gain praise, analysts estimate Nokia's market share in the smartphone sector remains around 5 per cent, and that it needs to bolster its position at the low-end to ensure its survival.

The company was reported to have sold 4.4 million Lumia smartphones in the fourth quarter, including the Lumia 820 and 920 which were launched in November, according to Reuters.

For more:
- see this Reuters article

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