Home Home

A World of Hurt for Nokia, and Everyone Else

November 16, 2008 in Wireless Industry News
Bad news for the mobile phone market in 2008, 2009, and beyond

Bad news for the mobile phone market in 2008, 2009, and beyond

Ouch: Nokia reported Friday that fourth quarter industry mobile phone sales would be far lower than expected – 20 million phones lower, to be exact. The company also painted a pretty bleak picture for the future, thanks to a certain global recession.

Nokia didn’t give any hard numbers for 2009, other than to say that phone sales would be lower than 2008, as would be anything to do with the Nokia Siemens Networks joint venture (surprise!).

The only “good” news from the press release was market share: Nokia’s lion’s share of the pot would stay the same or be slightly higher in Q4 compared to the previous quarter.

“In addition to the measures recently announced at Nokia and Nokia Siemens Networks, Nokia is taking decisive action to significantly reduce its cost base:
- Nokia has already instituted various cost saving actions.
- Nokia will curtail use of external contractors, consultants and professional services.
- Nokia will further cut operating expenses in 2009 to respond appropriately to the market conditions.”

See the damage: Nokia Press Release

***

Tags

, ,

Got Something To Say?


nokia phone blog: version 5

Subscribe!The Nokia Phone Blog is about mobile phones, MeeGo, S60, the wireless industry, and now Windows Phone.
Subscribe here.  RSS, Atom
Email me at cary (at) nokiaphoneblog.com.

The Blog

28

Featured


142

Mobile Phone Software


152

Nokia Phone Accessories


134

Nokia Phone Deals


303

Nokia Phone News


122

Nokia Phone Previews


50

Nokia Phone Reviews


21

Nokia Phone Tips and Tricks


63

Nokia Randomness


20

Other Mobile Phones


351

Wireless Industry News


Current Phone Prices, Courtesy of PhoneMatchUp!

PhoneMatchup Sony Xperia TX: $516.77
Samsung Galaxy Note II N7100: $639.00
HTC J: $598.88
Sony Xperia SL: $388.85
Nokia Lumia 900: $419.98

More Sites By Me

randomlygifted

angbox


My personal blog.
 
PhoneMatchup

PhoneMatchup


An eBay cell phone comparison shopping/price monitoring project. Buy your next cell phone through PhoneMatchup and save!
 
randomlygifted

randomlygifted


Let randomlygifted find you the perfect (random) gift ideas.
 
MyDealSpy

MyDealSpy


The greatest deal aggregator that has ever existed. Okay, I'm a little biased here.