Nokia Tumbles, Warns It Will Lose Share in Q3; Other Handset Stocks Also Lower

September 5, 2008 at 6:15 am PT

Nokia (NOK) this morning warned that it now expects its mobile device market share in the third quarter to be down from the second quarter. The company had previously said it expected its share of the market to be sequentially flat.

Nokia said it continues to target an increase in share for the full year.

The company also said it expects the overall mobile device market this year to be “impacted by the weaker consumer confidence in multiple markets,” although it still expects device volume to grow 10 percent or more from 1.14 billion units last year. Nokia said it still expects industry units to be up sequentially in Q3, but lower than previously expected.

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Tagged with: Barrons, consumer confidence, Eric Savitz, frontpage, industry units, market share, mobile device, Nokia, Tech Trader Daily

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