Market keenly awaits Nokia’s quarterly results

THE market keenly awaits the announcement of Nokia’s results for the last quarter of 2008 this week.

The world’s leading manufacturer of mobile phones said it will announce the results for the period on Thursday.

“Nokia will publish its fourth quarter and annual results 2008 on Thursday, 22 January,” said the company.

The announcement will be made in Helsinki, Switzerland. The announcement comes hot on the heels of competitor Sony Ericsson’s announcement of its results for the period where it said it had recorded a drop in the sales of its gadgets owing it to the global economic recession.

Announcing its results for the third quarter of 2008, Nokia, which holds the lion’s share of markets in Africa and around the world, said it expected the demand for mobile device volumes in the fourth quarter 2008 to be up serially.

It added that it expected its mobile device market share in the fourth quarter 2008 to be at the same level or slightly up serially while forecasting that industry mobile volumes would be approximately 1,26 billion in 2008, up from approximately 1,14 billion units it estimated for 2007–ITNewsAfrica.