Samsung Inches Closer to Unseating Nokia (NOK) in Key Emerging Market
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Nokia (NYSE: NOK) shares are indicated for a lower open Friday following reports that it is losing ground in a key market.
According to the WSJ, citing data from Canalys, Samsung now boasts a 22 percent share of the smartphone market in India through the end of 2012. That compares with 26 percent held by Nokia over the same period. That's significantly lower than Nokia's market share of about 60 percent in India during 2009.
India accounts for 13 percent of the 336 million handsets Nokia shipped last year.
Samsung has about 14 models based on Google's (Nasdaq: GOOG) Android operating system, with prices starting at 5,900 rupees (roughly $110) and moving all the way up to 36,500 rupees (about $670).
Nokia has devices starting at about $20, with its latest Asha line coming in at $65 to about $150. The Asha is a "smart feature" line of phones, which have similar functions of a smartphone, without an operating system.
Into the open, shares of Nokia are down about 2 percent.
According to the WSJ, citing data from Canalys, Samsung now boasts a 22 percent share of the smartphone market in India through the end of 2012. That compares with 26 percent held by Nokia over the same period. That's significantly lower than Nokia's market share of about 60 percent in India during 2009.
India accounts for 13 percent of the 336 million handsets Nokia shipped last year.
Samsung has about 14 models based on Google's (Nasdaq: GOOG) Android operating system, with prices starting at 5,900 rupees (roughly $110) and moving all the way up to 36,500 rupees (about $670).
Nokia has devices starting at about $20, with its latest Asha line coming in at $65 to about $150. The Asha is a "smart feature" line of phones, which have similar functions of a smartphone, without an operating system.
Into the open, shares of Nokia are down about 2 percent.
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