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Sat 09 Sep 2008Nokia shares drop 11.3% on warning of reduced market share of mobiles
NOKIA, THE world's largest mobile phone maker, yesterday warned that its market share would shrink in the third quarter of the year, bringing to an end a period of almost uninterrupted growth and wiping more than 10 per cent off its share price.
The Finnish company stood by its earlier forecast that industry-wide unit sales for the full year would increase, but admitted for the first time that aggressive moves by its competitors were pricing it out of the market.
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