Nokia (NYSE: NOK), the Finnish mobile phone giant, chopped the list price of its Lumia 900 phone 50 percent, to only $50, which could indicate it's not sold well.
Its first unit to run software from Microsoft (Nasdaq: MSFT), the world's biggest software company, Nokia introduced the unit in April to generally good reviews. It sells the unit in the U.S. through AT&T Inc. (NYSE: T), the No. 1 telecommunications carrier.
A Nokia representative said the cut was a standard practice and an AT&T representative said the carrier was pleased with Lumia 900 sales. The phone won't be compatible with Microsoft's Windows 8 software scheduled for release later this year.
Nokia is scheduled to report second-quarter financial results on Tuesday. It's previously announced it expects to report a loss as much as $864 million.
Nokia's American Depositary Receipts fell a penny to $1.83 in pre-market activity. They've fallen 68 percent in the past year.