Financial Times

Nokia expects market growth to slow in 2009

 

Nokia unveiled its latest E series phone – the Nokia E75 – to Sri Lanka last week, at a pre-launch press conference in Colombo, saying the phone is targeted at the corporate sector and is due to be launched in Sri Lanka in the first week of May. The phone will hit the local markets in four colours - black, red, copper and yellow - at a price tag of Rs 66, 250.

The best thing about the E75 is a new email user interface that is expected to cut costs on emailing and supports up to five email accounts. The Nokia E75 also provides Internet access and comes with a full keyboard under a sliding key mat that allows for easy typing. It can also synchronise with a laptop or PC and has improved calendar capability and easier contacts and task management. Other highlights include a built-in MP3 player, FM radio, a 3.5 mm stereo headphone plug and a 3.2 mega pixel camera, officials said.

However, the company says it is not expecting significant sales growth in Sri Lanka in 2009. The Nokia E75 for instance, is expected to capture less than 1% of the Sri Lankan market.

“We are not expecting growth in many markets in 2009. For Sri Lanka we are looking at sustaining the numbers rather than growth. This is because of the impacts of the global recession on business in Sri Lanka and also because of the general situation in the country,” Nokia’s Sales and Channel Development Manager for Emerging Asia, Md Mesbahuddin, told The Sunday Times FT. Nokia is already the market leader in Sri Lanka for mobile phones but says higher penetration in Sri Lanka compared to other countries in the region, reduces growth momentum. “In Sri Lanka the mobile penetration is about 40% - 45%. But in Nepal and Bangladesh penetration is still only around 11% and 27%. So there is more space to grow in these countries. In Sri Lanka this year, we are expecting growth mainly in the lower-priced phone sales,” said Mr Mesbahuddin.

With the recession deepening in the west, Nokia’s total global market is expected to shrink by about 10% in 2009.


 
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