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	12/4/2008 12:51:44 PM
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Nokia and RIM paint gloomy outlook for handset sales

Handset manufacturers predict poor growth due to economic downturn

Nokia has lowered its mobile industry outlook for the last quarter of this year, painting a gloomy picture for 2009.

The handset manufacturer outlined its lowered forecast at the Capital Markets day event in the US today (4 December), following a profit warning issued in November.

Nokia now estimates that that mobile device volumes in the fourth quarter will be lower than its previous forecast of 330 million units and will fall by 5%.

Meanwhile, Research in Motion (RIM), the Canadian manufacturer of BlackBerry smartphones, has also issued a profit warning. The firm blamed new product delays, general economic conditions and slowing subscriber growth for the move.

Nokia said mobile device slowdown has continued ‘more rapidly’ than expected. It added: ‘The industry continues to be impacted by the effects of a global consumer pull-back in spending, currency volatility, and decreased availability of credit.’

Nokia said it plans to cut costs ‘appropriately’ into 2009 and 2010 to ‘offset the negative impact of slowing sales’.

Nokia president and chief executive, Olli-Pekka Kallasvou, said: ‘2009 will be challenging for our industry, however we have a strong, enviable base to build on and I believe we will continue to strengthen our position on many fronts.'

Despite the forecast, Nokia says it is targeting an increase in its 2009 market share, including an increased share in smartphones.

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