InternetWeak Economy Could Sap Handset Growth

Gartner's latest research shows some weakness in growth rates.

HELSINKI -- A weakening global economy will blunt cellphone market sales growth this year, research firm Gartner said on Wednesday. Gartner said it expects market growth to slow to 11 percent from 16 percent last year, while in U.S. dollar terms growth would slow to 9 percent from 11 percent. The world's top cellphone maker Nokia (NYSE: NOK) has forecast the market will fall this year in euro terms. The euro reached record highs above 1.60 against the U.S. dollar earlier this year, but was trading at 1.475 dollars on Wednesday, roughly the level where it started 2008. "We are starting to see impact of the economy," said Gartner analyst Carolina Milanesi, adding increased competition and the weaker economy would also hurt average selling prices. "In addition, mobile phone manufacturers will be put under pressure to maintain healthy margins while they intend to further break through in the emerging markets to increase sales," she said. Milanesi said she expects cellphone sales in Western Europe in 2008 to be roughly on last year's level, underpinned by strong growth in the second half on the back of attractive new models reaching the market. Cellphone sales in this key region for phone makers like Nokia and Sony Ericsson fell 16 percent year-on-year in the first quarter and 8 percent in the second quarter. LATEST NEWS Enterprises Looking to the Clouds, Dell SaysIDC:... [ Read more on www.internetnews.com ]

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