According to the Financial Times Nokia had the first year-on-year decline in three-and-a-half years and issued profit warnings.
In an interview with the Financial Times, Olli-Pekka Kallasvuo, Nokia
chief executive, insists that the company is better placed to cope with
the downturn than its competitors.
Mr Kallasvuo said: "When times are tougher, people who have stronger
positions fare relatively better than the competition . . . So,
overall, I believe many of our competitors will have limitations here
in terms of their ability to do things."
Nokia expects that they will increase market share. One trend that
may help them is when times get tough, users may downgrade to cheaper
phones and Nokia has many low and mid models.
One source in the article stated that reception to the "Nokia Comes with Music" service was lukewarm in the U.K.
Mr Kallasvuo was quoted as concluding: "We will continue to combine market share
and margins in the right way in order to maximize the bottom line."
Source: Financial Times.