Nokia said Friday it expects global market share in the third quarter to be lower than in the second quarter, a statement that sent its stock price tumbling about 10 percent, according to the Associated Press.
“Nokia expects the overall mobile device market in 2008 to be impacted by the weaker consumer confidence in multiple markets,” the company said in a statement. “However, Nokia continues to expect industry mobile device volumes in 2008 to grow 10% or more from the approximately 1.14 billion units Nokia estimated for 2007.” Currently the company employs 116,000 people worldwide.
In 2007, the Finland-based company held down about 40% of the global market, selling a staggering 440 million handsets. Most American consumers wouldn’t know that, because they’re only in fourth place here (behind LG, Samsung, and Motorola).