Staff Techdrunk 
According to Yahoo! News, the world’s leading mobile phone manufacturer, Nokia, has reduced the prices for many of its handsets. This move has inevitably put a lot of pressure on competing companies, that have already posted low profits for the year 2008.
Nokia has cut down the prices of the music phone and selected multimedia devices by almost 10%. Nokia 5310 and Nokia 5610 music phones have seen the sharpest fall in their retail prices, along with the multimedia N81 8GB.
According to David Hallden (Analyst, Cheuvreux), “This is basically a way to run away from competition. You’re putting a lot of pressure on your less competitive peers. I think they’re doing a ‘Crazy Ivan’,” referring to the tactical maneuver made by a submarine, when taking sudden and acute sharp turns.
