Nokia cuts its market share forecast to 34%

Nokia has revised its estimates for the global mobile device market and its own market share for year 2009. The company has also updated its global mobile device market estimates for 2010.

In early 2009, Nokia had predicted that the number of mobile devices in the world would be 1.14 billion units and its mobile device market share would be 38% year. However, with the new estimates, it has found that the global mobile device market volumes were 1.26 billion units and its mobile device volume market share was 34% in 2009.

Nokia expects industry mobile device volumes to rise by approximately 10 percent in 2010 as compared to the previous year. It also targets to maintain 34 percent of the mobile device market this year as well.

In a company statement, Nokia says that from this year it will use the revised definition of the industry mobile device market to make estimations. The revised definition is based on improved measurement processes and tools that enable Nokia to have better visibility to estimate the number of mobile devices sold by new entrants in the global mobile device market. These include vendors of legitimate as well as unlicensed and counterfeit products with manufacturing facilities mostly in emerging markets.