Nokia expects to lose marketshare with flat handset sales in 2010
Speaking to the public during its "Investor day" in Finland, the world's number one cellphone maker lost $834 million in the third quarter as Apple, RIM and other smartphone manufacturers chip away at Nokia's lead. With a 35% share of the global smartphone pie, Nokia shipped 108.5 million units in the quarter which was up from Q2, but down from the 117.8 million shipped a year ago when the company owned 41% of the smartphone market. With all of the new competition, operating margins have shrunk from 18.6% to 11.4% from the third quarter 2008 to the third quarter of 2009. The company expects margins to be between 12 and 14% next year. There is no idea when Nokia might start regaining marketshare by growing faster than the overall marketplace.