S&P 500
7,542.60
-0.10%
Dow Jones
52,504.70
-0.02%
Nasdaq 100
29,711.90
-0.13%
Russell 2000
2,985.61
-0.17%
FTSE 100
10,488.30
+0.08%
Nikkei 225
69,159.70
+0.19%

Telecom & Wireless

Nokia (NOK) Sucks More Air Out Of The Handset Room (AAPL)(MOT)(RIMM)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

Nokia (NOK) had a stronger second quarter than most people expected. According to The Wall Street Journal, "Nokia said sales rose to €13.15 billion from €12.59 billion. Analysts expected sales of €12.86 billion."

Just as important, Nokia’s global market share rose to 40% from 39% last year and the company shipped 122 million handsets. A great deal of the improvement came due to sales of units in India and China.

This is not exactly good news for companies like Motorola (MOT), RIM (RIMM), and Apple (AAPL). The US and EU are becoming modest to zero growth markets for handsets. Improving prospects in the areas where they market most of their products won’t be of any help this year.

Because of its existing trouble, the Nokia news is probably worst for Motorola. It has never replaced its hit product, the RAZR. The iPhone and Blackberry are taking the high end of the market. Samsung has taken a lot of the middle market.

The earnings news signals one other thing. Getting sales for the new iPhones and Blackberry products will not be a cake walk.

Douglas A. McIntyre

Contact [email protected] for any questions or corrections.

Follow 24/7 Wall St. on Google
Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Douglas A. McIntyre |

Apple (AAPL) And RIMM (RIMM) Drive US Handset Sales

The Apple (AAPL) iPhone and RIM (RIMM) Blackberry have been doing what Motorola (MOT) and Nokia (NOK) could not. They…

Douglas A. McIntyre |

The Smartphone Business Loses Its Luster

The smartphone business was among the most attractive in the tech world until recently. That was before Microsoft (NASDAQ: MSFT)…

Douglas A. McIntyre |

Smartphone Sales Surge as Apple Picks Up Share

Apple Inc.’s (NASDAQ: AAPL) share of the smartphone market rose 60% in the first quarter of 2010 as sales for the entire…

Douglas A. McIntyre |

Research In Motion Cannot Be Sold

The board and management of Research In Motion (NASDAQ: RIMM) apparently would like to sell the company. That will not…

Douglas A. McIntyre |

Palm Moves Further Down The Road To Obscurity

Palm (PALM) may not be dead, but it is dying. It could not survive that ongoing success of smartphone leaders…

Douglas A. McIntyre |

Handset Growth Expected To Surge With Apple (AAPL) Is The Lead

The global handset business has faltered due to the recession. Research firm Strategic Analytics says that worldwide handset sales fell to…

Jon C. Ogg |

Motorola and Nokia Dance To iPhone Tune in Earnings (AAPL, VZ, MMI, T, NOK, GOOG)

If there was any lingering doubt about the identity of the 600-pound gorilla in the mobile phone market, today’s earnings…

Douglas A. McIntyre |

Nintendo Wii Failure: Echoes of Consumer Electronic Disasters Past

The failure of the new Nintendo 3DS and upgraded Wii have caused the Japanese company troubles similar to those faced…

Douglas A. McIntyre |

Motorola Droid X Sold Out

Consumers who want to buy a new Motorola (NYSE: MOT) Droid X from Verizon Wireless may want to buy an…

Top Gaining Stocks

Hewlett Packard Enterprise
HPE • Vol: 26,431,700
Norwegian Cruise Line
NCLH • Vol: 17,600,839
Lam Research
LRCX • Vol: 12,118,424
Invesco
IVZ • Vol: 4,557,369
AMD
AMD • Vol: 26,902,257

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
APA
APA • Vol: 4,400,255
New Pluto Global
PSKY • Vol: 18,873,941
Costco
COST • Vol: 4,545,300
Cincinnati Financial
CINF • Vol: 2,196,176