Nokia is slashing prices on some of their older Windows phone devices in order to pave the way for their newer models. According to a report at Reuters, older Windows Phones like the Lumia 800 will be getting a 15% cost reduction to help clear inventory before the launch of their newer phones like the Lumia 920. Nokia still hasn't revealed any launch dates for their newer phones. Current industry intel pegs an October launch window for the new Lumia 920 and other Nokia phones. This would make sense, so that they can start getting the phones in the hands of consumers leading up to the holiday season.

In the mean-time, we should start seeing some bargains on earlier Lumia devices pretty soon. Sound off in the thread as soon as you start seeing any great deals.

With this news, shares of Nokia stock where down about 13 percent, which was to be expected. That's pretty much the meat of this morning's news, but you can check out more details at the source link below.

Source: Reuters