At a recent investors meeting with Goldman Sachs in Boston, Nokia’s CFO Rick Simonson explained to the investment bank that it plans increase pressure on its closest rival, Motorola Inc (NYSE: MOT). The Finnish cell phone company plans to cut its entry-level phone pricing this quarter in a move aiming on stopping Motorola from narrowing the market-share gap between the two companies.Source: International Business Times
Olli was right when he said Nokia wasn’t engaged in a price war during 4Q 2006:
Nokia’s CEO, Olli-Pekka Kallasvuo, told the FT that, "Our latest results are an illustration that if there was a price war, we were not participating."
Source: The Inquirer
However the 1Q of 2007 is looking mighty different right about now. It’s fun watching these two giants fight.
(Picture was found on Nokia’s site)