3/11/2008 11:20:00 AM
Nokia’s share price falls in Helsinki and New York
Nokia’s share price fell by 5% today at its home market in Helsinki. The decline follows a drop in the handset giant’s share price in the U.S. last week.
The reason behind the decline is investors’ worry of a weakening demand for mobile phones, especially for high end 3G handsets.
The concerns come after mobile chip maker, Texas Instruments revealed its first quarter results would be weaker than expected, mainly due to the slow 3G market. Analysts believe the slump Texas Instruments is experiencing is due to lower demand, specifically from one of its most significant customers, Nokia.
TI said the demand for chips used in cheaper phones has been as expected.