Nokia cuts mobile phone sales forecast-again

Finnish mobile giant Nokia has cut its forecast for mobile phone sales in the current quarter for the third time in less than three months. Within the last month Nokia predicted 330 million mobile phones would be shipped in the last quarter of 2008, a figure the company now feels was optimistic. Nokia would not be drawn into a precise forecast of sales saying only the final number would be lower, presumably meaning lower than 330 million. The company says the entire industry is slowing down and analysts should focus on Nokia's market share rather than actual units sold. Nokia thinks it can increase its market share in 2009 from its present level of 38 per cent. It is also promising reduced capital and operational expenditures.

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