Finland-based Nokia has nipped the prices for its older Lumia smartphones - the Lumia 800 and Lumia 900 that are currently being sold in the market.
There's been a 15 percent drop in the prices of Lumia 800 and a 10 percent drop in the Lumia 900 prices during the past month said a data from CCS Insight, a mobile industry analysis, Friday, The Wall Street Journal reported.
Price cuts are not "a big surprise given the looming arrival of the next generation of Windows smartphones," said Digantam Gurang, analyst CCA Insight.
Lumia 800 hit markets last November.
Nokia unveiled its new Lumia 820 and Lumia 920 earlier this month and will be available for sale in November. It's crucial for the company's survival, which has been sweating out with its older smartphone devices, while rivals like Samsung and Apple are already rolling out newer products.
Google has captured global markets accounting for two-thirds sales while Apple has around a quarter and Nokia 3 percent.
Nokia was once the world's biggest mobile phone maker. Rivals have outpaced it in the smartphone industry.
Only through competitive pricing for the new Lumia line can Nokia win back consumers who are already glued to Samsung and Apple smartphones.
Nokia Thursday revealed its prices for Europe.
Nokia will be a Windows 8-based smartphone. It has features like "Live Tiles" that update in real-time, it also comes with a full version of the new Microsoft Office, Outlook and Internet Explorer 10, "City Lens" feature that gives information as you pan the device looking through the camera display. It comes in seven different colors. Both the models can be charged wirelessly.
The devices will be available for sale from Nov. 12.
