Printed from http://www.electronista.com

Nokia looks to gain marketshare, stock drops

updated 08:50 pm EST, Tue December 4, 2007

Nokia financial broadcast

Nokia today hosted its annual investor day, and announced that it is raising its operating margin forecasts, while seeking to gain market share in mobile devices. Shares dropped 3.3-percent on the NYSE, as investors deemed Nokia's 16- to 17-percent group operating margin too conservative, leaving the company to finish at $38.92 per share. CEO Olli Pekka Kallasvuo continue on to the mobile division, pointing out the potential operating margin at 20-percent within two years, and 10-percent for its Nokia Siemens Networks joint venture by the end of 2009.

Nokia's shares are up 76-percent, year to date, while most competitors have stumbled in this regard, and says that the company's third-quarter market share sits at 39-percent, with expectations that this will increase based on a potential 15-percent growth in emerging markets. Nokia predicts that the industry will ship 10-percent more handsets in the coming year, with sales forecasts reaching 1.1 billion units.

Announced earlier in the day was Nokia's Comes With Music service, saying it had signed a deal with music giant Universal, whose artists include U2, and Amy Winehouse. Nokia plans for customers to be able to buy a phone and then have unlimited access to Universal's music collection for an entire year, the cost of which will be subsidized with the cost of the phone.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Life n Soul 8 Driver Bluetooth headphones

When it comes to music on the go, consumers generally have some options to consider when looking for the best experience. While Blueto ...

Tesoro Tizona G2N Elite gaming keyboard

The market for gaming keyboards is getting crowded, starting off with some fairly simple keyboards and diverging into the land of modu ...

GX Gaming DeathTaker mouse

Gaming is a serious endeavor for many people, driving them to look for the best performance in their system and interface devices. Fro ...

Sponsor

toggle

Most Commented

 
toggle

Popular News