Jo Harlow, whom Mr. Elop appointed head of smartphones shortly after he became CEO, said Nokia will launch lower-priced Lumia devices in the coming months to better compete with aggressive Asian device makers such as China's Huawei Technologies.
The model has even been stretched to other industries, including a credit card that offers discounts linked to well-being and car insurance that offers cheaper petrol to people who drive safely (a telemetric device installed in your car monitors aggressive driving, like harsh acceleration or sharp cornering).