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My Profile Live Election Coverage Breaking news, state-by-state map and more... Election News You are here: Home > News > Technology > Article Home Business & Finance News U.S. Politics International Technology Internet Entertainment Sports Lifestyle Oddly Enough Environment Health Science Special Coverage Video Pictures You Witness The Great Debate Blogs Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters You Witness News Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Nokia strengthens emerging market push, to cut jobs Tue Nov 4, 2008 4:10pm EST Email | Print | Share | Reprints | Single Page [-] Text [+] By Tarmo Virki HELSINKI (Reuters) - Nokia accelerated its push in emerging countries on Tuesday as mature markets slow, unveiling seven new phones and Internet services while slashing almost 600 jobs in its marketing and research units. Emerging markets are a stronghold for the world's top cell phone maker, but it has lately seen increasing competition from vendors such as China's ZTE and Samsung Electronics. The new phones include the 1202, a follow-up to Nokia's top-selling 1200 model that will sell for some 25 euros ($32.2), two models with e-mail support priced at 40 euros, and a 75-euro Nokia 7100, with smartphone-like features. "This refresh to Nokia's entry-level portfolio will reinforce its dominance in emerging markets," said analyst Geoff Blaber at research firm CCS Insight. While the 1202 is a direct rival to the most inexpensive phones of ZTE and smaller Chinese manufacturers, analysts said the other models will put further pressure on the low-end phones from struggling Motorola and Sony Ericsson. Shares in Nokia rose on the news and closed almost 4 percent firmer at 13.05 euros. Handset makers are increasingly looking for opportunities to tap booming demand from emerging markets as slowing economies have started to hurt sales in developed markets. "We continue to be in a very strong position in emerging markets," Alex Lambeek, head of Nokia's entry level phones, told Reuters in an interview. "I would say we are changing the game. It's not only devices, it's also about services," he said. ERODING PRICES While welcoming the low-end launches, analysts said they were still waiting for new higher-end models, which would improve margins and help halt a steady slide in prices. "This is maybe not what the market wants to see from Nokia these days ... From a volume perspective it's good, but God knows what the demand in those markets will be in the first half," said analyst Thomas Langer at West LB. "This will lead to further market-share wins in emerging markets, but what's missing is really nice stuff in the high end. In order to get operating profit margin above 20 percent they need to do more in the high-end," he said. Nokia phones' third-quarter average selling price fell to 72 euros from 74 euros in the second quarter. It has been in steady decline in recent years as demand for lower-priced products in emerging markets rises, competition toughens and technology matures. The company last December targeted an operating margin of some 20 percent during the next one to two years for its Devices & Services business. While Nokia remains more profitable than its peers, the third quarter margin was 18.6 percent. Continued... 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