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Nokia Looks To Reverse Share Slide

08-28-2008

People & Companies in the News
Europe The world’s largest mobile handset maker, Nokia Oyj, has unveiled two handsets featuring navigation and five-megapixel cameras to help reverse a slide in smartphone market share, reports Bloomberg News.

The N85 and N79 will both start shipping in October for a retail price excluding subsidies and taxes of 450 euros ($518) and 350 euros, respectively, Espoo, Finland-based Nokia said in a statement. Nokia's global market share in so-called converged devices, which allow users to surf the Web, download music and send e- mails, dropped to 41% in the second quarter from 51% a year earlier, according to the company's own estimates.

Nokia faces intensified competition in the smartphone market from Research In Motion Ltd., LG Electronics Co. and Apple Inc.

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