Nokia (NOK) Even Getting the Cold Shoulder in Its Home Country
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According to Finnish language newspaper Taloussanomat (which translates to 'The Economic Times' in English, hat tip to Google Translate) and data from IDC, Nokia (NYSE: NOK) is having trouble getting rid of phones in it's home country. It's like American's hating on Apple (Nasdaq: AAPL) -- but worse.
The market share drop in Finland isn't without a little pomp-and-circumstance, however. Nokia's homeland share plummeted from 76 percent to just 31 percent in the third quarter.
So what is Finland buying? In short, Samsung. The South Korean mobile OEM now accounts for more than 25 percent of the market, up sharply from just 3 percent in the same period last year. The company must be stuffing those things with karjalanpiirakka!
But with a population just breaking 5 million, market share can fluctuate fairly readily and the loss won't hurt Nokia's bottom line too much. The company is expected to report earnings of 36 cents per share for its fiscal 2011, dropping to 34 cents per share the following year.
Still, Nokia is a big deal in Finland, with it's hands in a bunch of Finnish moving parts.
Taloussanomat notes a key factor in the shift was accelerated global adoption of Google's (Nasdaq: GOOG) Android. Nokia eschewed the Droid in favor of Microsoft's (Nasdaq: MSFT) Windows Phone, which has had lack luster results at best. But with Windows 8 expected to be more refined and mobile device friendly, Nokia might just be on a temporary slump.
The market share drop in Finland isn't without a little pomp-and-circumstance, however. Nokia's homeland share plummeted from 76 percent to just 31 percent in the third quarter.
So what is Finland buying? In short, Samsung. The South Korean mobile OEM now accounts for more than 25 percent of the market, up sharply from just 3 percent in the same period last year. The company must be stuffing those things with karjalanpiirakka!
But with a population just breaking 5 million, market share can fluctuate fairly readily and the loss won't hurt Nokia's bottom line too much. The company is expected to report earnings of 36 cents per share for its fiscal 2011, dropping to 34 cents per share the following year.
Still, Nokia is a big deal in Finland, with it's hands in a bunch of Finnish moving parts.
Taloussanomat notes a key factor in the shift was accelerated global adoption of Google's (Nasdaq: GOOG) Android. Nokia eschewed the Droid in favor of Microsoft's (Nasdaq: MSFT) Windows Phone, which has had lack luster results at best. But with Windows 8 expected to be more refined and mobile device friendly, Nokia might just be on a temporary slump.
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