The world's biggest mobile phone manufacturer, Nokia, saw its share fall by more than 10 percent after it missed its first quarter targets due partly to the economic slowdown in Europe and US.
The Average Selling Price of Nokia phones fell to 79 Euros down from 83 Euros and while it managed to sell more mobile phones - nearly 116 million in the last quarter - than Samsung, Motorola and Sony Ericsson put together, its market share fell from 40 percent to 39 percent.
The strong Euro and the sluggishness of the US and European countries means that Nokia is bracing itself for a harder than expected 2008 as the value of the market is declining in terms of Euros.
The lower ASP is partly due to the fact that areas of growth are found mainly in emerging and third world countries like China and Asia.
Still, Nokia managed to increase its operating margin which means that the cost of producing phones and devices actually fell more than its Average Selling price and is confident that more than 1.2 billion mobile devices will be sold by 2008.