Nokia has seen its market share slip during the first three months of the year, but still managed to outsell its three closest rivals combined.
The world’s biggest handset manufacturer posted its Q1 results today which revealed it had sold 115.5 million phones in the quarter – more than Samsung, Motorola and Sony Ericsson combined.
Nokia’s quarterly earnings rose in line with expectations, but the Finnish handset manufacturer said its market share eased back to 39% during the quarter from 40% in the last three months of 2007.
Nokia says it now has a strong lead in emerging markets including China and India, which it has been fiercely defending.
However, times were harder for the company in the US, and the company is now predicting an economic slowdown in Europe in the next three months of the year.
The average selling price of phones in the first quarter was €79 (£63.50), down from €83 (£66.70) in the previous quarter and behind the average of analysts' forecasts of €81 (£65).
Olli-Pekka Kallasvuo, Nokia CEO, said: ‘The overall device market developed as expected, with the greatest demand in emerging markets, where our position is very strong.
‘The competitiveness of our product portfolio is reflected in our market share and we target market share gains in the second quarter.
‘While we will not have major new products shipping in the second quarter, we expect a number of new products to be shipping, and to have a positive impact on our results, in the second half of 2008.’