Moving forward, Nokia expects sales to fall at least 10 percent this year compared to 2008 levels, with the majority of the dip expected in the first half of the year.
One cause for relief might be that the company said it expects sales volumes in the second quarter to be flat or slightly up from what it saw in the first quarter. Nokia also said that its 37 percent market share remains unchanged, which it had predicted in January.
Yet Nokia's financial woes come at a time when, at least in the U.S., the handset maker may have more than the economy to worry about. This summer, it's facing renewed competition from players like Palm (NASDAQ: PALM), which is poised to roll out its Pre mobile device.
BlackBerry maker Research In Motion (NASDAQ: RIMM) also plans updates to its Storm smartphone, while Apple (NASDAQ: APPL) is rumored to be releasing new iPhones. There are also a slew of vendors pledging to release new handsets based on the Google-led Android mobile operating system.
Will Windows 7 Be a PC Mover? Analysis: Microsoft and its PC partners hope Windows 7 can drive PC sales, even in a down economy.
No two recessions are the same, and the shakedown hitting the U.S., indeed the global economy, is very different from the one experienced in 2000-2002. That was a powerful combination of the Silicon Valley getting hit directly [...]
Upgrades Can't Save Dell, Cisco Good news for Dell, Cisco and Apple investors just meant falling less than the rest of the stock market.
The 16-month-old bear market added another "worst ever" to its list of accomplishments today, sending stocks plunging in the weakest start to the month of March in market history.
Every stock in the big-cap Nasdaq 100 ended the [...]
Report: IT Salaries Still Rising Developers, IT executives and managers are projected to see the highest salary growth despite the recession, a report from Computer Economics says.
While the economy is hitting technology companies hard, a new report suggests that corporate information technology jobs may be a bit more recession-proof. Computer Economics's 2009 IT Salary Report finds that while salary [...]
Open Source Backers See Downturn Opportunity Prominent open source executives make the case for lower-cost alternatives during the economic crisis.
SAN FRANCISCO -- Most tech suppliers aren't too happy about the state of the economy. Tighter budgets brought on by the crisis generally means less IT spending. Proponents of open software don't dispute the challenge, but they argue the current tough times [...]
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