Nokia has slashed the US price of its flagship mobile phone in half just three months after its initial launch.

It is aimed at trying to bridge the gap in market share between itself and rivals Apple and Samsung.

Nokia spokesman Keith Nowak confirmed that the price has been reduced to $49.99 (£32.19) with a two-year agreement in place.

Nowak said the cut "is part of our ongoing lifecycle management, which is jointly done between Nokia and carrier customers".

There had been high hopes from analysts that the mobile phone would be successful for the Finnish company but it suffered with teething problems on its initial release.

The firm was forced to delay the launch after makers found a software bug in the device.

Analysts at Liberum Capital told the Daily Telegraph: "Nokia’s sales and earnings are on a slippery slope, as seen in its lowering of guidance."

Posted by Simon Thomas

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