Nokia has cut the prices of its smartphones in Europe in an attempt to slow the decline in its share of the higher end of the market, two industry sources told Reuters. One of the sources with direct knowledge of Nokia's pricing said the steepest cuts of around 15 percent were made on the flagship N8, the multimedia phone C7, as well as the business E6. Other price cuts were smaller, both sources said. "There are no very big cuts per model, but the scale -- across the portfolio -- is unseen for a very, very long time," said one of the sources, who works at a European operator. A Nokia spokesman declined to comment on specific prices and said changes were part of its normal business. Nokia warned in late May that its mobile handset division will likely drop to breakeven in Q2 due to price pressure and weak sales volumes.
