Handset sales sluggish thanks to weak economy

The weakening economy has caused several brokerage firms to reduce their 2008 handset sales forecasts and many are predicting that handset makers such as Motorola, Nokia and others will feel the pinch through the end of the year.

Specifically, Deutsche Bank analyst Brian Modoff cut his handset shipments to the lowest level in six years. He said that mobile phone shipments will grow no more than 6 percent this year, down from his original forecast of 11 percent at the beginning of 2008.

For more:
- see this MarketWatch story [1]

Related story:
Worldwide handset shipments [2] slow in Q1