Nokia, the second-biggest maker of mobile phones, has unveiled cheaper handsets to meet consumer demand for fast connections to the Internet.
The Nokia 207 and 208 are candybar-shaped phones that let users connect to speedier third-generation networks, the company said.
They come with Nokia’s Xpress Browser that compresses data and will include social applications such as WhatsApp, Facebook and Twitter. Both handsets will cost $ 68 and are expected to start shipping this quarter.
The third model is a dual SIM version of the Nokia 208.
The company said the new models are its “most affordable 3G devices yet.”
As Nokia strives to catch up with Apple and Samsung Electronics in smartphones priced at more than $ 500, the Espoo, Finland-based company is also trying to boost sales of more basic handsets that sell for a fraction of the price, a category that accounts for most of its device business.
Nokia’s first-quarter sales slumped 20 percent as competition from Asian manufacturers of phones that run Google’s Android software hurt demand for the company’s cheaper models.
Chief Executive Officer Stephen Elop said the decline in its mobile-phone business was primarily caused by competition and Nokia was preparing “aggressive moves” to respond. It unveiled new software to power its Asha mobile phones in May.
Of the 336 million handsets Nokia sold last year, only about 10 percent were smartphones.
Basic models accounted for 31 percent of Nokia’s revenue, versus 18 percent for smartphones.
Network equipment made up most of the balance.
Nokia reported April 18 that it sold about 11 million fewer mobile phones in the first quarter than analysts had projected, with basic phones plunging 21 percent to 55.8 million units.
A failure to revive the low-end business would leave Nokia without an important source of cash to develop devices to challenge competitors.
The phonemaker this week said it plans to buy Siemens AG’s share in the six-year Nokia Siemens Networks joint venture for 1.7 billion euros, giving it full access to the phone-equipment maker’s cashflow.
Nokia Siemens on Wednesday won a contract worth at least $200 million to build a fourth-generation wireless system for Russia’s biggest mobile-phone company OAO Mobile TeleSystems.
Nokia unveils $ 68 phones for speedy Internet access
Nokia unveils $ 68 phones for speedy Internet access
Post-break return of students drives surge in education spending, SAMA data shows
RIYADH: Spending on education in Saudi Arabia increased by 141.1 percent for the week ending Jan. 24, as students returned to the classroom after the mid-year break.
This was accompanied by a 7 percent increase in spending on books and stationery, which reached SR146.17 million ($38.9 million).
According to the latest data from the Saudi Central Bank, the over POS value dropped 10.6 percent to SR12.52 billion, with transactions representing a 9.7 percent week-on-week decrease to 213.62 million.
This week saw negative changes across all the remaining sectors. Spending on bakeries and pastries saw an 18.4 percent decline to SR229.71 million, while gas stations saw an 11 percent drop. Professional and business services decreased by 11.6 percent.
Expenditure on apparel and clothing fell by 19.7 percent to SR985.94 million, followed by a 2.8 percent drop in spending on jewelry.
Spending on car rentals in the Kingdom fell by 14.7 percent, while airlines saw a 9.3 percent decrease to SR38.16 million.
Expenditure on food and beverages saw a 7.9 percent decline to SR1.88 billion, claiming the largest share of the POS. Restaurants and cafes retained the second position despite an 18.5 percent decrease to SR1.50 billion.
Geographically, Riyadh accounted for the largest share of total POS spending, but still saw a 6 percent dip to SR4.46 billion, down from SR4.74 billion the previous week. The number of transactions in the capital settled at 69.07 million, down 6.8 percent week on week.
In Jeddah, transaction values decreased by 13.6 percent to SR1.75 billion, while Dammam reported a 4.8 percent decrease to SR640.59 million.
POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia.
The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.
The growth of digital payment technologies aligns with the Kingdom’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.
