Nokia remains bullish about short-term prospects

20 Dec 2004

The world’s largest mobile handset manufacturer Nokia has defended its forecast that the global mobile phone market will grow by 10% in 2005, despite predictions by the analyst community that demand from emerging markets in eastern Europe and Latin America will begin to slow. In an interview with the Financial Times, Nokia chief executive Jorma Ollila said that he expected growth would come through ‘a combination of emerging markets and a good and healthy replacement market.’ He also said he felt that overall growth could be boosted by a higher than anticipated demand for third-generation handsets towards the end of 2005. Nokia currently has around 30% of the mobile handset market, down from a high of 35% several years ago.