Nokia Predicts Fast Falling Prices for Windows Phone 7 Devices

Fancy a Windows Phone 7 device? Unless you're jonesing for a new smartphone right this minute, you may want to hang tight for a few. Nokia's chief executive, Stephen Elop, made some comments recently that suggest WP7 devices are going to come down in price, and soon.

In negotiating a deal with Microsoft to carry WP7 smartphones, Elop said a key topic was whether or not Nokia could reach "a very low price point," and those talks apparently went well.

"We have become convinced that we can do that very quickly," Elop is quoted as saying by Reuters.

Nokia, the world's largest mobile phone maker by volume, announced earlier this week that it was partnering with Microsoft to offer WP7 devices, effectively replacing Nokia's own Symbian platform and freeing the company to focus entirely on hardware. News of the deal prompted Nokia shares to plummet 20 percent in a knee-jerk reaction, though things could change if Nokia is able to finish hammering out a deal for low(er) priced WP7 phones.

"The conclusion of the agreement will happen, we think, quite quickly, measured in a couple of months; it may be longer, it may be short," Elop said.