Nokia to lower prices of new Lumias after Q1 revenue dropped 29%

After reporting a $1.2 billion first-quarter loss, Nokia plans to "deeply" lower the price on new Lumia smartphones. Nokia CEO Stephen Elop, despite the losses, remains upbeat on Nokia's future. "[T]he numbers mask the totality of what we have accomplished. Lumia is up and running in the U.S.A. We are clearly in the heart of the transition," he said.

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