Nokia Cuts Prices, Starts Handset Price War
The price war for market share in the cellular business have moved from carriers to handset manufacturers. AT&T (NYSE:T) and Verizon Wireless have dropped subscriber fees in a battle for US customers. Now Nokia (NYSE:NOK) will drop the prices of almost…
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The initial effects of the Nokia move may be on makers of mid-level phones in terms of price and function. Many of these are made by Sony Ericsson and LG. But, as Nokia brings down what consumers pay for its most advanced handsets.It will increase its competition with the Apple (NASDAQ:AAPL) iPhone and RIM (NASDAQ:RIMM) Blackberry. The could force those two companies to evaluate cost cuts of their own.
The smart phone price wars have begun in earnest.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.