Nokia has made a move that may be seen as a war declaration to rivals Motorola and Sony Ericsson. The latter two cellphone manufacturers have been hemorrhaging revenues and market share this past year or so and Nok-Nok’s recent across-the-board price cuts may hasten the two companies’ demise.

Reports Reuters:

Nokia made the steepest price reductions of up to 10 percent for selected music and media phones, while it made smaller cuts across the portfolio, a European telecom industry source said.

Though Nokia shares fell some 2 per cent, it will go a long way in cementing Nokia’s lead as the top cellphone manufacturer. Former close rivals Motorola and Sony Ericsson have been falling rapidly in market share, while Samsung and LG, current second and third in the market have little chance of catching up.

[read the rest: reuters]