Friday, 31 October 2008

Mobile phone market shows effects of global financial crisis

Research company IDC says the global financial crisis is being felt by the mobile phone industry, with sales down significantly in the third quarter of 2008. Their figures show that manufacturers shipped 299 million handsets in Q3 2008, up 3.2% from last year but down 0.4% from the previous quarter. Historically, the third quarter has seen an increase as manufacturers prepare for Christmas. Average selling prices for mobiles have also begun to drop. Nokia leads the list of mobile manufacturers with a 39.4% market share, Samsung is second with 17.3%, Sony Ericsson has moved up to third place with 8.6%, Motorola is fourth with 8.5% and LG is fifth with 7.7%. Strategy Analytics has calculated similar figures; they say 303 million cellphones were shipped worldwide in Q3 2008, up 5% year-on-year, which is the industry’s weakest growth rate since 2002. [IDC press release; Strategy Analytics report]

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