Nokia expects to lose market share in Q3

Nokia today released a note to investors that adjusted the company's forecast for its Q3 market share estimates. Back in July the company had told investors that it expected to maintain its current worldwide market share of 40%. Now the company is saying that its market share will be slightly lower due to competitive pressures and new handset delays. From the press release:

"Nokia's current estimate that its mobile device market share in the third quarter 2008 will be lower than previously expected is due to multiple factors. These factors include Nokia's tactical decision to not meet certain aggressive pricing of some competitors, the overall market competition, including the entry markets, and the temporary impact of a slower ramp-up of a mid-range Nokia device. Nokia's strategy is to take market share only when the company believes it to be sustainably profitable in the longer term. Nokia has not broadly participated in the recent aggressive pricing activity - as it believes that the negative impact to profitability would outweigh any short term incremental benefits to device unit sales."

The company, of course, did not say exactly which mid-range cellphone it was referring to.