Nokia Corporation (NOK) No Longer Ranks In The Smartphone Top 5 List

Nokia Corporation (NOK) No Longer Ranks In The Smartphone Top 5 List
Hermann / Pixabay

Nokia Corporation (NOK) No Longer Ranks In The Smartphone Top 5 List

As further proof of their decline in sales, Nokia Corporation (NYSE:NOK) is no longer listed in the Smartphone Top 5 list.

The list from IDC for third quarter sales shows that Samsung has the lead at number one, while Apple sits at number two. Research In Motion took the place of Nokia Corporation (NYSE:NOK) at number three, ZTE and  HTC hold places four and five respectively.

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Kevin Restivo, an analyst for IDC, explains, “Nokia’s share losses have meant gains for competitors. The company’s transition away from Symbian-powered smartphones, to ones shipped with Windows Phone has left ample opportunity for rivals to steal share away from Nokia over the past 18 months. However, the smartphone market is still relatively nascent, which means there’s room for multiple vendors and operating systems to flourish, including Nokia.”

Despite Nokia’s major decline in the United States, the tech company still sits at number two in the global market. They own about 18.7 percent of the market, which is behind Samsung’s 23.7 market share and ahead of Apple’s 6.1 percent.

Things aren’t looking good for Nokia Corporation (NYSE:NOK), but not all is lost. Even though they may not be able to stay in the United States for very long, they still have a chance to redeem their brand everywhere else.  This isn’t to say that Nokia should completely forget about the US market.  It may take awhile, but if they sit back, do a little research, and study up on their competition, they could make a comeback. Like I said, that could take time, and in their case it may be a little too late.

One analyst for Strategy Analytics, Neil Shaw, said, “Nokia will need to ramp up sharply its Windows Phone volumes if it wants to recapture a top-three smartphone position in the next one to two quarters.”

It’s only a matter of time until Nokia Corporation (NYSE:NOK) comes to terms and makes a few changes. Hopefully, that will happen sooner, rather than later.

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