Nokia Expecting 20% Market Share

Nokia, the world’s largest manufacturer of cell phones, expects to earn 20% from its’ operations. The forecast made some investors pessimistic about the share price.

Shares in Nokia fell more than 4 percent on the news as many investors had expected a more upbeat profit forecast for the Finnish firm’s key business, which has reached a margin of 19 percent so far this year.

“Their new margin targets weren’t as good as needed — they’re already on those levels,” said SEB analyst Leif Pettersson.

The world’s top cellphone maker, which makes more phones than its three closest rivals combined, said it sees all vendors together selling around 10 percent more phones in 2008 than this year.

Nokia sees the music business as being a big part of their profits in upcoming years. They are making a big push into music for cell phones.