Nokia has been ruling the cell phone manufacturing industry for so many years and the company has tried to touch every new technology emerging on the scene. However, the numero uno brand has been experiencing the downgrade in its statistics associated with cell phone selling. The result calculated after the first quarter of 2009 are depressing and confirms the evil of recession on the market.

To begin with, Nokia has recorded a substantial loss of 90% in the terms of profit. This means that there is a huge reduction in the yield of quarter 1 2009 as compared with the same period of last year.

Going further, the company has experienced 27% reduction in the cell phone sales. Needless to say, it is definitely a horrifying figure, until and unless we get to know about the statistics of other cell phone manufacturers. Not only this, the company has also relieved more than 1700 of its employees across the world. This happened only in one month’s time period in March.

The situation is definitely bad, but there are some good statistics as well to compensate for losses, though only to a small extent. First of all, the company’s shares have gone up by 8% in the time period of past few months.

Also, the company is celebrating the sale of nearly 3 millions of Nokia 5800 units, which is definitely a relaxing factor. Moreover, the company still retains its 37% market share and the position of being the top manufacturer.

This entry was posted on Saturday, April 18th, 2009 at 12:30 am and is filed under Nokia News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.