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updated 9:55 PM PDT, May 4, 2016

Nokia to release cheaper smartphone

Aiming to boost market share, the Finnish mobile phone maker unveiled a low cost smart phone using Microsoft Windows software.

Aiming to boost market share, the Finnish mobile phone maker unveiled a low cost smart phone using Microsoft Windows software.

Chief executive Stephen Elop told reporters at the Mobile World Congress in Barcelona that the new phone — a low-price euro189 ($254) smartphone that runs on Windows software  — demonstrates "the actions necessary to improve the fortunes of Nokia."

"With great products for consumers, I think the rest will fall into place," Elop said.

But shares of Nokia Corp. closed down more than 6 percent at euro4.06 ($5.44) on the Helsinki Stock Exchange after the announcements, wiping out gains made Friday when investors had hoped the Finnish company would map out bolder plans.

Read more at Yahoo! News.

Last modified onMonday, 19 October 2015 11:40

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