14 DAY TRIAL // Finnish mobile phone maker Nokia announced today that it had updated its mobile device market estimates for 2010, based on a revised definition of the industry mobile device market. According to the company, the new definition is applicable to its reporting beginning in 2010. Moreover, the company also revealed that it had filed its annual report on Form 20-F for 2009 with the US Securities and Exchange Commission.
“Beginning in 2010, Nokia is revising its definition of the industry mobile device market that it uses to estimate industry volumes. This is due to improved measurement processes and tools that enable Nokia to have better visibility to estimate the number of mobile devices sold by certain new entrants in the global mobile device market. These include vendors of legitimate, as well as unlicensed and counterfeit, products with manufacturing facilities primarily centered around certain locations in Asia and other emerging markets,” Nokia states in a press release.
According to the handset vendor, based on the definition it used in 2009, the industry mobile device volumes were 1.14 billion units but, based on the revised definition, the industry mobile device volumes in 2009 would have been 1.26 billion units. At the same time, the company notes that, while its market share was forecast to be of 38 percent, based on the new definition it would have been of 34 percent. These numbers are provided only for comparative purposes, the company adds.
According to the company, when applying the revised definition of the industry mobile device market, - Nokia expects industry mobile device volumes to be up approximately 10% in 2010, compared to 2009; - Nokia targets its mobile device volume market share to be flat in 2010, compared to 2009; and - Nokia targets to increase its mobile device value market share slightly in 2010, compared to 2009.
At the same time, the company also reports that these targets are the same as those announced on January 28, 2010, only that this time the revised market definition has been applied. Those interested in the Nokia annual report on Form 20-F for 2009 can find it available here.