* Cuts Lumia 800 around 15 pct, other models less -sources
* Product launch fails to please investors
* Deutsche Bank, Societe Generale downgrade to 'sell'
* Shares fall a further 5.3 pct
By Tarmo Virki
HELSINKI, Sept 6 Loss-making Nokia
has slashed prices of its older smartphone models using
Microsoft Windows software, industry sources said on
Thursday, a day after investors gave its latest Lumia phones a
Two industry source told Reuters that the Finnish group,
which is struggling to recoup ground lost to its rivals, cut
the price of its mid-range Lumia 800 Windows Phone by around 15
percent this week and made smaller reductions on other Windows
Nokia shares continued falling on Thursday after slumping 13
percent on Wednesday as the firm unveiled two new Windows Phone
models in what may be the last major shot at reclaiming market
share lost to Apple Inc, Samsung Electronics Co Ltd
and Google Inc.
Nokia did not disclose the price or roll-out dates of the
new models and its share fell a further 5.3 percent to 1.88
euros by 1135 GMT on Thursday.
The company did not officially confirm the price cuts but
said such steps were a normal part of its business.
The lower prices will hurt Nokia's bottom line, particularly
in September and October as analysts expect the new models to
begin contributing to results only the following month.
Analysts said the new models would probably reach the market
by November at the earliest, with the high-end 920 model likely
to sell for a price similar to the next Apple's iPhone. This
will be unveiled next week and probably go on sale this month.
Following Nokia's product launch Deutsche Bank and Societe
Generale both cut their recommendation on the stock to "sell".
"We believe Nokia will struggle to regain sufficient market
share with Windows 8 devices to offset increasing pressure on
its Mobile Phone business from lowcost Android devices in 2013,"
Deutsche Bank analyst Kai Korschelt said in a research note.
Retail prices of smartphones using Google's market-leading
Android software have dropped below $100, a level other
smartphones are struggling to reach due to their high
requirements on features like processing power.