Nokia cuts prices of Windows phones

Loss-making Finnish cellphone maker Nokia has slashed around 15 percent off the price of its midrange Lumia 800 Windows Phone this week and made smaller price cuts on its other Windows models, two industry sources told Reuters on Thursday.

Nokia said price cuts were part of its usual business.

"Our pricing has been business as usual, reflecting typical product lifecycle changes," said a Nokia spokesman.

Nokia unveiled two new Lumia smartphones on Wednesday, drawing a quick thumbs-down from investors looking for transformational handsets to rescue the former market leader, but did not say what price the phones would sell for.