Nokia Corp lowered the price of all its smartphones to save its decreasing market share, Sina.com reported on Tuesday.

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The report said Nokia's flag models – like the N8,C7 and E6 – will see a 15 percent price cut, while the prices of other models will be cut by less.

Nokia predicted losses in the second and third quarters due to a drop in sales of its smartphones.

A Nokia spokesman said the price adjustment is a part of the company's ordinary operation.