October 16, 2008

Nokia Experiencing iPhone Effect, Smartphone Shipment Drops

Nokia today reported their financial revenue for third quarter of 2008 and it showed an increasing shift of customers away from Nokia’s high-end devices. Nokia shipped 117.8 million handsets in Q3, which was down 3 percent from previous quarter, but was up 5 percent in year-over-year growth. However the cellphone market grew at faster rate than Nokia’s growth rate, as a result the company’s market share dropped from 40 percent in June end to 38 percent in Q3 2008. Nokia saw a drop in its smartphone shipment from 16 million to 15.5 million. Read More

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