Nokia says economy has “resulted in a sharp pull back in global consumer spending”

Nokia said the mobile phone market would fall in the Q4 and next year due to the possible economic slowdown.  It forecast 1.24 billion phones being sold worldwide this year (down from 1.26 billion last year). A statement by Nokia said: “In the last few weeks, the global economic slowdown, combined with unprecedented currency volatility, has resulted in a sharp pull back in global consumer spending”. More here