Handset Sales Slowing
Global handset sales fell by 18%, or 50 million phones, in the first quarter of 2009, according to a Reuters poll . The economic recession that has impacted demand worldwide is expected to take a toll on handset vendors, including Nokia ( NYSE:NOK ), who is expected to report its worst quarter in seven years.
Handset vendors are expected to have a rough year in general, selling 11.4% fewer phones than they did in 2008.
Smartphones remain a bright spot in the market, as evidenced by Research In Motion’s ( NASDAQ: RIMM ) better-than-expected results last week, but overall, things look a little bleak.
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