Nokia Sees Signs Of Stability In Mkt, Too Soon To Call Bottom

Nokia Corp. (NOK) said Thursday while it does see the first signs of stability in the mobile phone market, it is too early to say whether the fall in consumer demand has reached bottom.

The market is no longer falling in a uncontrolled manner, I am encouraged by the signs of stabilization seen at the end of the first quarter, said Nokia Chief Executive Olli-Pekka Kallasvuo during a conference call.

Nokia reiterated it expects the 2009 industry mobile device volumes to fall some 10% from 2008 levels, adding it is seeing signs that the mobile handset market is stabilizing after de-stocking by operators and distributors hit its earnings and revenues in the first quarter.

Read Full Article from Wall Street Journal

- Posted: 2009-04-16 07:52:04

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