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
- Aylmer triple stabbing leads to first-degree murder charges
- The estranged partner of a young mother who was stabbed to death along with her parents at their home in Aylmer, Que., has been charged with first-degree murder Friday. more »
- Severe storm in Quebec leaves damage in its wake
- Trees were uprooted, roofs damaged and windows shattered as severe thunderstorms, and possibly a tornado, rattled through southwestern Quebec Friday night. more »
- The risks and responsibilities of taking on Mt. Everest
- The deaths of five climbers last weekend on Mt. Everest, with more summits underway this weekend, fuels the debate about the risks and responsibilities of high altitude climbing. more »
- Pope's butler arrested in Vatican leaks scandal
- The Vatican has confirmed that the Pope's butler was arrested earlier in the week in connection with an embarrassing document leaks scandal. more »
Latest Technology & Science News Headlines
- Unloading of docked SpaceX capsule to start Saturday
- The privately bankrolled SpaceX Dragon capsule made a historic arrival at the International Space Station on Friday, and astronauts will begin unloading some of the 544 kilograms of food, water, clothing and other supplies its carrying starting Saturday. more »
- South Africa, Australia to share world's largest telescope
- South Africa and Australia will jointly host the Square Kilometre Array, which promises to be the world's largest telescope, the international consortium in charge of the project said Friday. more »
- Bonavista, N.L., 'coyote' was really wolf, tests confirm
- Wolves have not been seen in Newfoundland since around 1930 and were believed to have been hunted to extinction on the island, but genetic tests have confirmed that an 82-pound animal shot on the Bonavista Peninsula in March was, in fact, a wolf. more »
- Once-rare argus butterfly thriving thanks to climate change
- Global warming is threatening the existence of many species, such as the giant polar bear, but in the case of Britain's brown argus butterfly, it took a species in trouble and made it thrive. more »
- Yahoo scraps digital magazine designed for iPad
- Yahoo has killed Livestand, a tablet magazine, just six months after its debut on the iPad. more »
Bob McDonald's Blog
Government to shut down unique fresh water research area May. 25, 2012 12:31 PM The Experimental Lakes Area research facility in Northern Ontario is being closed down after 44 years of providing invaluable data to scientists in Canada and internationally, a decision that has stunned researchers and environmental groups.
Quirks & Quarks
- May 26: Before the Lights Go Out May. 25, 2012 4:15 PM A new book, "Before the Lights Go Out: Conquering the Energy Crisis Before It Conquers Us", suggests that the unpredictable, unplanned, ad-hoc way our energy use developed in the past will shape our energy future.
Latest Features
- Aylmer triple stabbing leads to first-degree murder charges
- B.C. premier unhappy with disgraced Mountie's transfer
- Everest victim's husband says family not seeking government help
- The risks and responsibilities of taking on Mt. Everest
- Canada ending 'Buffalo shuffle' for visas, closing consulate
- Ottawa man in hospital after lightning strike
- Calmer winds ease fire threat in northeastern Ontario
- What a Greek euro exit could mean for Canada
- Police probe Halifax homicide after shooting
