Nokia is sliding dangerously close to oblivion

They can’t seem to catch a break.

News has been bad for the former leader in handset sales worldwide and it’s only gotten worse recently. They announced today that the Lumia 900 Windows phone, their flagship, will be sold at 50% off only three months after its launch. With a 2-year AT&T agreement, the phone costs $49.99.

This was expected to some extent after Microsoft announced that the current phones would not be able to run their upcoming Windows 8 software. It has consumers believing that there’s no reason to get any of the current Windows phones and they would be correct. This news comes on the heels of reports that they’ll be cutting 10,000 jobs and that they were downgraded to “junk” status by all three major credit agencies. Here’s the report from Reuters.

Nokia Oyj has cut the U.S. price of its flagship smartphone in half, barely three months after its launch, in an effort to stanch losses in market share to rivals such as Apple Inc and Samsung Electronics Co.