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Nokia Vs Apple iPhone: Is Nokia Targeting Apple iPhone with Cheaper Device?

Nokia Vs Apple iPhone: It is hard to go a single day without hearing at least one rumor about a cheaper priced Apple Inc. (NASDAQ:AAPL) iPhone. In fact, we posted this article earlier today: Katy Huberty of Morgan Stanley Talks Apple Inc. (AAPL) After Meeting with CFO.

In the above piece, Katy Huberty of Morgan Stanley discussed the possibility and potential for a lower priced iPhone from the Cupertino-based company.

Apple Inc (AAPL)While Apple Inc. (NASDAQ:AAPL) continues to ponder this idea, there are other companies that appear to be acting fast. For example, it is being reported by Reuters that Nokia is going to release a cheaper device as a means of targeting Apple and Samsung.

Whether or not this plan works out for Nokia is yet to be determined, but it is interesting to see that the company is moving in this direction. Is it possible that this change in direction by Nokia could be just what the company needs to regain some of the market share it has lost over the past few years?

Here is what the article has to say about the release from Nokia:

“Company sources said it would introduce cut-price basic phones to compete with the likes of Huawei and ZTE and a new, lower-price model of its Lumia smartphone on Monday at the Mobile World Congress convention in Barcelona.”

Once upon a time Nokia was top dog in the mobile device market. However, the company has lost out big time to Apple Inc. (NASDAQ:AAPL) and Samsung as of late. By taking the low end market by storm, Nokia is hoping to regain some momentum as this segment continues to grow.

Below is some feedback from Swedbank analyst Hakan Wranne:

“”In order to not continue to lose share in the overall market Nokia has to put forward competitive low-end smartphones.”

“What’s happening now is that the U.S. and Europe, the big smartphone markets, are really approaching saturation where customers will be upgrading to another smartphone or just replacing one that’s broken. That’s not a growth market.”

Do you think this move by Nokia will force the hand of Apple Inc. (NASDAQ:AAPL)? Share your thoughts in the comment section below.

Check back here for more updates on Nokia Vs Apple iPhone.

DISCLOSURE: I have no positions in any stock mentioned.

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