Handset manufacturer Nokia has lowered its end-of-year financial forecasts due to increased competition from Apple, Research in Motion and the various makers of Android-based smartphones.
The company said it expects net sales to be between $US8.2 billion and $US8.9 billion for the second quarter.
Nokia has struggled in the smartphone era. While it has developed fairly high-end technology, many of its handsets haven’t been able to attract the marketing hype and popularity as the Apple iPhone, or Research in Motion BlackBerry.
According to IDC, Nokia controlled the smartphone market in the first quarter with a 39.3% share, unchanged from 2009. However, Apple’s share rose five percentage points during the same period.
ABOUT THE AUTHOR
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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