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| Nokia forecasts global mobile phone rebound in 2010 |
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| Parmand News | |||
| Wednesday, 02 December 2009 17:24 | |||
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December 02.2009 - Parmand Telecom - Nokia, the world's biggest mobile phone maker, forecast on Wednesday that global sales of mobile phones would grow by about 10 percent in volume next year compared to an expected fall of seven percent this year. "Nokia expects industry mobile device volumes to be up approximately 10 percent in 2010, compared to 2009," the Finnish company said at its capital markets day in Helsinki. It said that while its own stake of the market was expected to be flat, the value of its market share in terms of euros would grow slightly. In mid-October Nokia reported its first loss in a decade amid rising competition in the smartphone market by Apple and RIM and problems with its Nokia Siemens Networks joint venture. Amid the global financial crisis many consumers have cut back on spending, which has also dented sales of mobile phones. Nokia has estimated that around 1.12 billion mobile devices will be sold in the world this year, which is around seven percent less than last year. "Going into 2010, the overall mobile devices market is stabilising," Nokia's chief financial officer Timo Ihamuotila said in a statement. Nokia said it aimed next year to increase profitability, and forecast the operating margin in its Devices and Services unit would increase from 12 percent this year to 14 percent in 2010. It also plans to cut research and development costs in the unit and has in recent weeks announced that it will cut some 550 R&D jobs. "We believe that by executing on the operational priorities we have set, Nokia will be competitive in both mobile phones and smartphones and will improve its value share," Ihamuotila added. Nokia's third quarter net loss was 559 million euros (844 million dollars). http://www.zawya.com/story.cfm/sidANA20091202T120101ZOAM00
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