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Nokia 105-$20 Handset!

Nokia 105-$20 Handset!

Nokia Oyj struggles to catch Apple Inc. and Samsung Electronics Co. in the market for Smartphones costing $500 or more, it’s counting on a bare-bones handset that sells for just $20 to give it an edge, will it win?

Nokia had more than half of the mobile handset market before Apple introduced the iPhone in 2007. Nokia shares have fallen more than 80 percent since then, while Samsung has risen 154 percent and Apple has quadrupled. After five consecutive annual losses, Nokia is down 14 percent this year through April 26.

The Nokia 105 is the Nokia’s cheapest phone ever that features preloaded games, a color screen, a radio, a speaking clock and a flashlight. It has been available for a few weeks in India and Indonesia and will soon start selling in Europe.

Nokia reported April 18 that it sold about 11 million fewer mobile phones in the first quarter than analysts had projected, with sales of basic phones plunging 21 percent to 55.8 million units. Nokia Chief Executive Officer Stephen Elop, speaking to investors after the report, pointed to the 105 as a signal that the low-end business can recover after a “difficult” quarter.

Nokia’s expertise in handset production makes it possible to turn a profit on a $20 phone, Jeronimo said. For years the world’s largest mobile-phone maker and now No. 2, Nokia makes more than 600,000 phones a day in seven factories around the world, using parts from suppliers it knows well. Chinese rivals may be able to make a device as cheap as the 105, but they lack the features and services from Nokia, Jeronimo said.

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