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The financial crisis’ influence over wireless industry.

Wednesday, July 22, 2009
The worldwide recession is beginning to catch up to some of the bigger names in wireless manufacturing. Nokia reported a 66% drop in profits for its second quarter. The Finnish company said that earnings dropped from 1.1 billion Euros last year to 380 million Euros in the most recent period.

Sales at the mobile devices unit went 15% less than the prior year as 103.2 million handsets were shipped over the last three months, but still up 11% from the first quarter, which is usually the weakest period of the year.

Nokia's market share rose to 38% from the prior quarter's 37% reading, but was down from the 40% share the company garnered during last year's second period. Thanks to 500,000 Nokia N97's shipped in June, Nokia's share of the smartphone market rose to 41% in the quarter from the previous three months.

Sony Ericsson reported its 4th consecutive period of red ink, losing 213 million Euros in the second quarter. The number of phones shipped dropped from 24.4 million to 13.8 million during the three months.

Sony Ericsson expects conditions to remain tough during the rest of the year as it predicts that the global handset market will contract at least 10% for this year.

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