Nokia expects 10% mobile phone growth in 2010

Nokia, the globe’s biggest phone manufacturer, has predicted that the volume of handsets in the mobile phone markets will grow by 10 per cent in 2010.

Nokia’s prediction is slightly more optimistic than analysts who have forecast a smaller, but otherwise healthy increase, of 8.6 per cent, according to Reuters.

Nevertheless, Nokia has stated that its market share would remain unchanged in 2010.

"Going into 2010, the overall mobile devices market is stabilising and it is growing more in the areas where Nokia has competitive advantages," said Nokia finance director, Timo Ihamuotila.

In addition to this, Nokia has predicted that its handset unit’s operating profit margin would be around 12-14 per cent for 2010.

Globally, the mobile phone industry has suffered as consumers have been forced to cut spending on gadgets, largely on account of the recession and large numbers of job losses.

However, if Nokia’s predictions are anything to go by, maybe things are picking up, slowly but surely.

Source: Reuters