Nokia says mobile market stalled in Europe in 07

Growth in the European mobile phone market fell to 3% in 2007 compared with a growth rate of 16% the year before, the world's biggest handset maker Nokia said.

A Reuters report said the estimates from Nokia in a document filed with US regulators, came a day after Sony Ericsson cited slowing growth in Europe as it issued a warning that its current quarter profit could fall by half.

According to figures in the document, Nokia also said that growth had slowed in the Middle East and Africa mobile phone market to 19% from 68% in 2006, while growth in North American unit sales fell to 6% in 2007 from 13% in 2006. Phone sales in Latin America fell to 10 % from 15%, according to Nokia's estimates.

The slowing growth in these regions was offset by a boost in sales expansion in China and in Asia-Pacific countries, according to Nokia. It said phone sales in emerging markets accounted for almost 60% of industry sales volume in 2007 compared with a 55% share of sales in 2006.

Nokia said that phone sales grew by 34% in the Asia-Pacific region in 2007 compared with 27% in 2006, and that in China phone sales increased by 34% in 2007 compared with a 29% growth rate in 2006.

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