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Nokia launches new phones in slowing mobile market
Nokia launched three new phones on Monday including a color-screen model with a built-in camera as the world`s top handset maker seeks to regain momentum in a slowing market.
Nokia launched three new phones on Monday including a color-screen model with a built-in camera as the world`s top handset maker seeks to regain momentum in a slowing market.
The phones are seen helping to kick-start a sluggish mobile Internet services market in Europe. Nokia hopes they will boost its position in the market for mobile phones, which will see its first sales decline ever this year as runaway growth stalls. The industry has been hit by a global economic slowdown, operators` reluctance to subsidize phones to win new customers, and the lack of attractive new services to stimulate demand.
Nokia phone launches are important for the industry, which is expected to sell up to 400 million cellphones this year, because the company holds around a third of the global market.
Sales of mobile phones to consumers dropped 10 percent in the third quarter of 2001 compared with the same period a year ago, according to figures released on Monday by research group Gartner Dataquest.
Finland`s Nokia lost market share compared with the previous three months, although it is still ahead of its market share at this time last year.
Nokia Chief Executive Jorma Ollila told reporters that he expected the company to increase its market share in the current quarter and said he saw some signs of recovery in demand.
Speaking to reporters at the product launch in Barcelona, Ollila said that Nokia had no plans to seek a merger partner.
Nokia said it would start shipments of the color screen 7650 phone in the second quarter of 2002 in Europe and Asia.
The phone would also use high-speed Internet GPRS technology, enhanced multimedia messaging services (MMS) and support Internet-friendly Java software.
Nokia said the less expensive but mass-market 5210 product and its 6510 would be shipped in the first quarter of next year.
Analysts welcomed Nokia`s new models because the company has come under pressure in recent months for the lack of new devices with color displays or phones with clever new designs and functions, while rivals were moving quickly into this area.
Shares in Nokia, which have doubled in value since the deadly September 11 attacks on the United States, shed 70 cents on Monday to 27.75 euros.
Brokers said the initial reaction from the market was a slight disappointment that the phones would not be shipped earlier. The stock gained on first reports of the phone launches last Friday.
The phones are seen helping to kick-start a sluggish mobile Internet services market in Europe. Nokia hopes they will boost its position in the market for mobile phones, which will see its first sales decline ever this year as runaway growth stalls. The industry has been hit by a global economic slowdown, operators` reluctance to subsidize phones to win new customers, and the lack of attractive new services to stimulate demand.
Nokia phone launches are important for the industry, which is expected to sell up to 400 million cellphones this year, because the company holds around a third of the global market.
Sales of mobile phones to consumers dropped 10 percent in the third quarter of 2001 compared with the same period a year ago, according to figures released on Monday by research group Gartner Dataquest.
Finland`s Nokia lost market share compared with the previous three months, although it is still ahead of its market share at this time last year.
Nokia Chief Executive Jorma Ollila told reporters that he expected the company to increase its market share in the current quarter and said he saw some signs of recovery in demand.
Speaking to reporters at the product launch in Barcelona, Ollila said that Nokia had no plans to seek a merger partner.
Nokia said it would start shipments of the color screen 7650 phone in the second quarter of 2002 in Europe and Asia.
The phone would also use high-speed Internet GPRS technology, enhanced multimedia messaging services (MMS) and support Internet-friendly Java software.
Nokia said the less expensive but mass-market 5210 product and its 6510 would be shipped in the first quarter of next year.
Analysts welcomed Nokia`s new models because the company has come under pressure in recent months for the lack of new devices with color displays or phones with clever new designs and functions, while rivals were moving quickly into this area.
Shares in Nokia, which have doubled in value since the deadly September 11 attacks on the United States, shed 70 cents on Monday to 27.75 euros.
Brokers said the initial reaction from the market was a slight disappointment that the phones would not be shipped earlier. The stock gained on first reports of the phone launches last Friday.