Nokia (NOK) Revises Sales Forecasts Down, Again

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Nokia (NOK) can’t keep up with the falling demand for cellular handsets. It cuts its forecasts for Q4 and 2009 again. That is probably not good new for Motorola (MOT), Samsung, RIM (RIMM), or even Apple (AAPL) iPhone sales.

According to Bloomberg, "Industry sales for this quarter will be lower than the 330 million units it had predicted last month, the Espoo, Finland- based company."

"The company also said it could no longer confirm its earlier prediction of having 38 percent global market share or higher in the quarter."

"In 2009, industry sales will fall by 5 percent or more, marking the first decline since 2001."

Douglas A. McIntyre