Samsung has overtaken Nokia to become the world's largest mobile phone maker as the Finnish firm struggles to keep up with the booming smartphone market, according to Reuters analysts.
Nokia spent 14 years at the helm of global cell phone sales but has
fallen behind as smartphone makers from Asia, including HTC and LG,
innovate smaller and more popular handsets.
The analysts found Samsung had sold 88 million phones in the January-March period while Nokia sold 83 million.
Their report said it was the first time since 1998 that Nokia was not the world leader in mobile phone sales.
Ben Wood, head of research at CCS Insight told the Sydney Morning Herald the news would be a "bitter blow" to Nokia.
"In contrast it will be greeted with euphoria by Samsung they'll be
dancing from the boardroom to the factory floor," Mr Wood said.
On Wednesday Nokia cut its first quarter operating margin outlook as
fierce competition hurt its mobile phone sales, sending the company's
share price plunging more than 14 percent.
The firm said its operating margin in the first quarter was
"approximately negative 3.0 percent, compared to the previously expected
range of 'around break-even, ranging either above or below by
approximately 2.0 percentage points'".
Nokia is currently undergoing a major restructure to stem the rot,
phasing out its Symbian line of smartphones in favour of a partnership
with Microsoft that has produced a line of Lumia smartphones.
Click to signup for FREE news updates, latest information and hottest gists everydayAdvertise on NigerianEye.com to reach thousands of our daily users
Nokia will bounce back in exactly 18 months and lead for another 24yrs.
ReplyDeleteNokia made recently big mistakes. One of them was to support Microsoft as operating system rather than Android and Symbian. Paying the price now.
ReplyDelete