New Nokia Handsets Receive Lukewarm Response at Singapore Trade Fair
Posted on: Wednesday, 16 June 2004, 06:00 CDT
Jun. 14--The number of mobile phone users will grow by a third from 1.5 billion to two billion by 2007, the world's leading handset manufacturer Nokia forecast today.
But the launch of five new handsets by the Finnish company at a trade fair in Singapore was greeted with lukewarm enthusiasm.
Investors had been waiting for new models since Nokia warned in April that it was not keeping pace with competitors' growth because it lacked attractive mid-market phones.
Simon Beresford-Wylie, senior vice president for Asia-Pacific, said he expected 300 million of the 500 million new mobile users to come from his region.
He also said the firm expects data to account for 30 percent of global revenue by 2008, against 15 percent now.
The five new phones unveiled today included what Nokia claims is the world's smallest third-generation camera phone, the 6630, a new "clamshell" camera phone and a swivel-screen model, the 6260.
It also released two mass-market designs, the 2650 and 2600.
Nokia has been rapidly losing market share to the likes of Samsung and Motorola with its lack of new handsets in the camera and high-definition screen markets.
Market researcher Gartner last week said it reckoned that Nokia's market share had plummeted from 34.7 percent to 28.9 percent between the first quarter of 2003 and the first three months of this year. Jorma Ollila, Nokia's chief executive, will kick off a two-day conference for the firm in Helsinki as the group attempts to win back its former dominant market position.
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