iSuppli: mobile phone market likely to shrink next year

iSuppli: mobile phone market likely to shrink next year

Market-research company iSuppli has said in a report that they expect the mobile phone market to shrink next year.

They now expect the market to see shipments of 1.22 billion phones.

This is 6 percent lower than their forecast for the current year.

iSuppli is not alone. Even Gartner and Nokia have admitted that the market is likely to see less sales of mobile devices in 2009.

iSuppli added that they do not believe that the market would see shipments touching the figures of 2008 till 2011.

They are now expecting 5.5 billion handsets to be shipped from 2009 to 2012. They figure is 753 million less compared to their previous forecast.