Reduced mobile sales in 2009

Reuters has recently put out a note that sale of mobile devices would be reduced in 2009. I see it that the market would still grow, but with reduced momentum. In fact Nokia had a press release warning investors to expect reduced growth for the company. And it has nothing to do with all the job cuts, nothing whatsoever.

Motorola is one of the worst hit (for quite a while too!) and the India head honchos have already started looking for greener pastures (especially in the booming construction market :) .

The Reuters poll (yea the note from the poll) states that the customer spending is reducing. On average, the poll of 36 analysts shows global market volumes shrinking 6.6 percent next year and 5.7 percent in the fourth quarter -- traditionally the strongest period for the industry due to holiday sales. Read more about it here.

Quick update: Gartner has also said the same thing apparently. Their reasons? Stockpiling of unwanted phones, people not getting what they want! Totally agree.