Nokia lowers outlook for third quarter mobile device market


Nokia announced a couple of days ago that it expects that its third quarter mobile device market share will be lower than it was a quarter earlier (about 40 percent). It had originally expected that it would remain flat and still expects to see its full year market share to grow over that of 2007. It cites a number of reasons for the lowered numbers: A decision not to engage in aggressive pricing against some competitors to protect profitability, the overall market conditions and the temporary impact of a slower ramp-up of a mid-range Nokia device

Nokia also expects that the overall mobile device market will still grow 10 percent or more in 2008 despite slowing economies and weaker consumer confidence in a number of markets.

Nokia will report its third quarter 2008 results on October 16, 2008.

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