Recession watch – Nokia’s market share down in Middle East & Africa

Mergers, Acquisitions and Financial Results

Due to loss of market share in Iran, Nigeria and South Africa, Nokia’s Middle East and Africa region experienced the largest percentage drop in market share for of any of its regions for Q4, 08. It sold 23.6 million units in Q4, 07 but this dropped to 18.2 million units in Q4, 08. This regional fall in sales contributed to an overall three percent loss of global market share.

However, revenues rose from EUR541 in Q4, 07 to EUR615 in Q4,08. In 2008, Europe accounted for 37% (39%) of Nokia's net sales, Asia-Pacific 22% (22%), Greater China 13% (12%), North America 4% (5%), Latin America 10% (8%), and Middle East & Africa 14% (14%). The 10 markets in which Nokia generated the greatest net sales in 2008 were, in descending order of magnitude, China, India, the UK, Germany, Russia, Indonesia, the US, Brazil, Italy and Spain, together representing approximately 50% of total net sales in 2008. In comparison, the 10 markets in which Nokia generated the greatest net sales in 2007 were China, India, Germany, the UK, the US, Russia, Spain, Italy, Indonesia and Brazil, together representing approximately 50% of total net sales in 2007.

In terms of units sold in the region over the full year, these actually went up from 75.6 million in 2007 to 81 million in 2008. Its loss of market share was caused by market share losses in Iran, Nigeria and South Africa.