Nokia Launches New Phones in Slowing Mobile Market

BARCELONA (Reuters) - Nokia launched three new phones on Monday including a color-screen model with a built-in camera as the world's top handset maker seeks to regain momentum in a slowing market.

The phones are seen helping to kick-start a sluggish mobile Internet services market in Europe. Nokia hopes they will boost its position in the market for mobile phones, which will see its first sales decline ever this year as runaway growth stalls.

The industry has been hit by a global economic slowdown, operators' reluctance to subsidize phones to win new customers, and the lack of attractive new services to stimulate demand.

Nokia phone launches are important for the industry, which is expected to sell up to 400 million cellphones this year, because the company holds around a third of the global market.

Sales of mobile phones to consumers dropped 10 percent in the third quarter of 2001 compared with the same period a year ago, according to figures released on Monday by research group Gartner Dataquest.

News source: reuters.com

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