Nokia, the world's top mobile-phone producer, announced that it will attempt to gain back market share when the company unveils its first mainstream flip phones next week, according to a Reuters report. The company, whose market share dropped to 28.9 percent in first quarter 2004 from 34.6 percent in the year-ago period, scoffed at the idea of introducing another clamshell phone last year.
As flip phones remain popular and rivals such as Samsung have been fast to market with camera phones and features such as Multimedia Messaging Service (MMS), Nokia plans to release its own clamshell phones. But will Nokia's new products be enough to keep boost the company's market share? According to a Reuters report, no: an analyst at Schwab Soundview Capital Markets said Nokia's new products are nothing the market hasn't already seen.