Nokia says mobile industry is slowing down

Nokia says the current global economic situation means the mobile industry will ship fewer devices in the fourth quarter of 2008 than previously expected. In addition, mobile device volume will be down in 2009 compared to 2008. Nokia estimates that around 330 million mobile devices will be shipped worldwide in Q4 2008, up from the estimated 310 million produced in the third quarter of 2008 but resulting in an annual figure of 1.24 billion devices instead of the previously estimated 1.26 billion. [Press release]