Nokia warns of sliding market share
Last Updated: Friday, September 5, 2008 | 9:39 AM ET
The Associated Press
Nokia Corp. warned Friday its third-quarter global market share will decline from second-quarter levels, sending its U.S. shares tumbling more than 11 per cent in pre-market electronic trading.
Nokia gave no figures, but in July had predicted that "its mobile device market share in the third quarter of 2008 would be approximately at the same level sequentially" as the second quarter.
In U.S. pre-market trading, shares fell $2.51 US, or 11.3 per cent, to $19.80, having closed Thursday at $22.31.
Shares have declined steadily since reaching a 52-week high of $42.22 last November.
The world's largest handset maker said it will continue to target an increase in "its market share in mobile devices for the full year 2008."
"Nokia expects the overall mobile device market in 2008 to be impacted by the weaker consumer confidence in multiple markets," the company said.
"However, Nokia continues to expect industry mobile device volumes in 2008 to grow 10 per cent or more from the approximately 1.14 billion units Nokia estimated for 2007."
Last year, Nokia sold nearly 440 million handsets accounting for 40 per cent of all global cellphone sales.
The company is based in Espoo, near the Finnish capital, and employs 116,000 people worldwide.
Share Tools
Top News Headlines
- Whitney Houston's body headed home to New Jersey
- Whitney Houston's body was flown out of Los Angeles, and headed to New Jersey, where her family was making arrangements for a funeral at the end of the week. more »
- Mandatory gun sentence struck down by Ontario judge
- An Ontario Superior Court judge has struck down a mandatory minimum sentence for a first offence of possessing a loaded firearm. more »
- Online surveillance critics siding with child porn: Toews
- Critics of a bill that would give law enforcement new powers to access Canadians' electronic communications are aligning themselves with child pornographers, Canada's public safety minister says. more »
- Low vitamin D in womb tied to poor language skills
- Children born to women who had low levels of vitamin D during their pregnancy are more likely to have language problems, a new study suggests. more »
Latest Technology & Science News Headlines
- Canada dropping the ozone ball, scientists warn
- Leading atmospheric scientists are warning that Canada's cuts to its ozone monitoring program are already having effects on the world's ability to monitor air quality and ozone depletion. more »
- Ban Wi-Fi in classroom, Ontario teachers union urges
- The Ontario English Catholic Teacher's Association says computers in all new schools should be hardwired instead of setting up wireless networks, citing safety concerns. more »
- How to think like a Neanderthal
- A lack of creativity and the inability to innovate may have led to the extinction of the Neanderthals, two researchers argue in a book that aims to get inside the Neanderthal mind. more »
- FBI seeks social media data mining tool
- The U.S. government is seeking software that can mine social media to predict everything from future terrorist attacks to foreign uprisings, according to requests posted online by federal law enforcement and intelligence agencies. more »
Bob McDonald's Blog
Glacier Discovery Walk: Will the visitor centre enhance the view? Feb. 10, 2012 3:17 PM Environment minister Peter Kent has announced the construction of a new Glacier Discovery Walk and visitor centre on the Icefields Parkway in Jasper National Park. It raises the issue of how to balance commercial development in our National Parks against the preservation of the last refuges of wilderness.
Quirks & Quarks
- February 11: Inside the Mind of a Neandertal Feb. 10, 2012 4:01 PM Can we get inside the mind of a species that's been dead for 30,000 years? A new book, How to Think Like a Neanderthal, suggests we can. The authors reconstruct a creature like us in many ways, but with important differences.
Latest Features
- 'Disgusting' court backlog may free hit and run accused
- Whitney Houston's body headed home to New Jersey
- HMCS Corner Brook collision damage extensive
- Adele wins best album, best record Grammys
- Whitney Houston autopsy results withheld
- U.S. bank reforms could hurt Canadians, Flaherty fears
- Father, son recall close call on ice road
- CBC digital music service launched
- Quebec town 'heartbroken' after killing of woman, sisters
