Nokia warns against growth expectations for handsets
11/23/2009 by: admin
Worlds biggest mobile phone manufacturer Nokia has warned that it will not increase its share of the handset market this year because of fierce competition. The company, which makes roughly four out of every 10 phones sold worldwide, has announced a 66% drop in second quarter profits to €380m (£326m), sending shares down almost 10%.
Nokia, who are based in Finland, which is also cutting jobs as it looks to reduce costs, has suffered as cash strapped consumers hold on to their existing handsets and opt for cheap SIM-only deals, leading to a dramatic drop in sales of mid-range phones.
Since the arival of SIM only contracts, sales of handsets in throughout the UK general had started decreasing as it is evident from mobile phone manufacturers sale figures for the first quarter of 2009.
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ha ha ha… nokia is saying that because they can’t keep with competition from iphone, htc and others. Bad losers finding something else to blame.
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