Nokia not riding quite so high anymore

Author: Kirstie

Published: 23/01/2009 @ 13:58

January last year saw Nokia with an amazing 40 per cent share of the mobile phone market but the company are now reporting that their profits have fallen by 69 per cent on this time a year ago.

Nokia have reported a fourth quarter period drop of 69 per cent to 12.7 billion euros on overall sales. This has equated to a loss of market share to the tune of about 8 per cent which leaves them currently with about 37 per cent. A reduction yes but still way ahead of nearest rival Samsung who are sitting on about 20 per cent of market share.

The drop off isn’t entirely unexpected by Nokia who have issued a couple of profit warnings since the middle of November. The company perhaps needs now to introduce some truly innovative products to the market place in order to claw back some market share. Especially with the Apple bandwagon rolling ever onwards, RIM, and a potential comeback by Palm all furthering erosion of Nokia markets.

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