Having launched their Windows Phone 8-based smartphones in the US only two weeks ago, Nokia and HTC have engaged in fierce price competition to win market share, according to industry sources.

AT&T is offering Nokia's Lumia 920 and Lumia 820 at US$100 and US$50, respectively, under a two-year contract compared to unlocked prices of US$600 and US$480 suggested for the two models, the sources pointed out.

An unlocked HTC's WP8X also carries a suggested retail price of US$600, but the model is also available for US$100 under a two-year contract with AT&T.

However, for the same two-year contracts with AT&T, consumers can also pick up the Lumia 920 for US$70, the WP8X for US$40, or the Lumia 820 free from Amazon. Additionally, BestBuy is offering the WP8X free in exchange for a two-year contract with AT&T.

Although the contract and unlocked prices of the Lumia 920 and WP8X are set at the same levels at AT&T, HTC is offering more competitive prices through online retailers, the sources commented.