Nokia makes a revision to its 2009 market share - expects no growth this year

Although some companies really hate having to adjust some final numbers they've reported previously, the world's number one handset maker had to make some changes to its 2009 global market share estimates. Rather than posting a higher market share, Nokia had to decrease it from an earlier 38 percent to 34 percent. To even add insult to the revised lower figure, Nokia also said that it expected to see no growth for this year, but the value of its market share in 2010 would “increase slightly” over the previous year – it goes to show how fierce the competition really is right now. Despite those updated reports, Nokia's share price closed surprisingly up 2 percent to 10.80 euros ($14.75). The biggest contributing factors to the revision is thanks partly due to more accurate measuring methods and sniffing out counterfeit products. Nokia said, “This is due to improved measurement processes and tools that enable Nokia to have better visibility to estimate the number of mobile devices sold by certain new entrants in the global mobile device market. These include vendors of legitimate, as well as unlicensed and counterfeit, products with manufacturing facilities primarily centered around certain locations in Asia and other emerging markets.”

source: Yahoo via Mobileburn