What the Heck Is Nokia Doing Wrong in China?http://www.fool.com/investing/general/2013/04/18/what-the-heck-is-nokia-doing-wrong-in-china.aspx Chris Neiger
April 18, 2013
New numbers came out yesterday for Nokia's (NYSE: NOK) sales in China -- and things aren't looking good. The company failed to benefit from a prime gift-giving holiday, and even the new Lumia 920T hasn't turned the tide in the country.
Nokia's been busy in China over the past few months, but unfortunately, not all of it has paid off. At the end of 2012, the company jumped on board with China Mobile to sell it's Lumia 920T, a move I thought would help the company. Having the China Mobile advantage could have boosted sales over the past few months, but apparently it didn't work out that way.
Nokia announced its Q1 2013 numbers today, and the figures show device sales in China falling 26% from the previous quarter -- and a jaw-dropping 63% decline year over year.
Despite Nokia's 20-year history in the country, the company holds about 1% of the Chinese smartphone market right now. The company lost its 50% smartphone market share after Apple and Google swept in with its operating systems. With China recently taking the No. 1 sp