The world's largest mobile handset maker, Nokia, on Friday lowered its outlook for the global handset market. Citing challenges in the economy, the company also gave a lower expectations for 2009, as well.
Nokia now predicts industry mobile device volumes will be 330 million, which would bring the industry volume down to 1.2 billion in 2008 from the earlier estimated 1.26 billion.
While Nokia expects Devices and Sales profitability to go down in the fourth quarter, it still expects to hold its grip on first place in the mobile device market.
Looking ahead to next year, Nokia said it expects the industry to be down in 2009 compared to 2008. It also expects the mobile infrastructure and fixed infrastructure and related services market to slump in 2009.
The with negative impact from the global economy, Nokia has already implemented cost cutting measures including cutting the use of external contractors, consultants and professional services.
Nokia will provide more details on its 2009 estimates and cost saving actions at its Capital Markets Day on December 4, 2008 in New York. The company reports its Q4 and full year 2008 results on January 22, 2009.
In reporting its fourth-quarter results last month, Apple said it sold 6.8 million iPhones -- a figure that topped the 6.1 million total sales of original iPhone. In fact, Apple sold more iPhones during the fourth-quarter than in all quarters combined.
In doing so, Apple met its goal of selling more than 10 million iPhones during calendar year 2008.
This story, "Nokia Lowers Fourth-quarter, 2009 Outlook" was originally published by Macworld.