Samsung, the largest electronics manufacturer in Asia, has become in the first quarter of this year the largest manufacturer of mobile phones worldwide, according to Strategy Analytics data, quoted by Bloomberg. As if that was not enough, Standard & Poor’s downgraded the rating of Nokia on Friday, by a notch to “junk”, not recommended for investors. Samsung has delivered in the first three months 93.5 million mobile phones, up 36% from the same period last year. Nokia sold 82.7 million units, ranking second worldwide. Samsung had a market share of 25%, followed by Nokia with 23%.
Nokia was the biggest producer of mobile phones in the world by sales since 1998, when he dethroned Motorola group. Apple ranked third place in the first quarter, with 35.1 million units, up by 89%, and a market share of 9.5%, although the company is present only on the premium smartphone segment. Mobile phone sales worldwide increased by 3.3% in the first quarter to 368 million units.
Samsung has won first place in the period from January to March for smartphone sales, with 44.5 million units and a market share of 31%, according to Strategy Analytics. Apple’s market share was 24%, and Nokia ranked third. Samsung Electronics posted a record first quarter profit of 5.2 billion dollars, due to smartphone sales, which generated 73% of earnings.
Standard & Poor’s has downgraded Nokia to “junk”
Finnish mobile phone manufacturer’s rating was downgraded by one notch, to “junk” not recommended to investors because the worsening of income prospects and profitability of the group.
For long-term debt the rating was revised from “BBB-” to “BB+” and short-term debt from “A-3” to “B”. Rating outlook is negative, announced in a statement the credit rating agency. “We believe that cell and service division revenues could decline in 2012 at the same rate as in 2011 (minus 18%), after Nokia reported a first quarter revenue below expectations, especially for smartphones with Symbian OS,” the statement said.
S & P anticipates that sales of Lumia phones will grow in time, but not enough to offset the rapid decline of revenue from devices equipped with Symbian. Fitch has also downgraded Nokia rating this week to “BB +”, following the decline of market share, and said the outlook remains negative.
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