September 8, 2008

Nokia to Lower Forecast for Market Share

Nokia to lower forecast for market share

STOCKHOLM, Sept. 5 (Xinhua) -- The world's leading mobile phone maker Nokia has lowered the forecast for its third quarter market share, according to reports reaching here from Helsinki Friday.

Nokia gave no figures, but said in a statement that it now expected its mobile device market share in the third quarter to be lower than in the second while it had forecast in July that its third-quarter market share would be at same level as in the second quarter.

"These factors include Nokia's tactical decision to not meet certain aggressive pricing of some competitors, the overall market competition, including the entry markets, and the temporary impact of a slower ramp-up of a mid-range Nokia device," it explained.

Nokia has, however, insisted its prediction in July that industry mobile device volumes in 2008 to grow 10 percent although the negative development in the world economy, it added in the statement.

Last year, the approximately 1.14 billion mobile phones were sold in the world, Nokia accounting for 40 percent of them.

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