Nokia say mobile phones market could crumble

Fri, 18 Apr 2008

Mobile phone giant and market leader Nokia sent a shockwave of fear throughout the mobile phone industry yesterday when they claimed that the global market for mobile phones is set to decline.

Due to an economic recession in both America and the UK, Nokia anticipate that the value of the mobiles market will be down on 2007 stats. Nokia make around two out of every five phones sold throughout the world.

The company had further bad tidings for the mobile market, reportedly saying that they expected mobile phones to decrease in average price, due to further competition. First quarter results from Nokia missed forecasts, despite profits and sales both climbing.

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