Nokia (NOK) Revises Market Share Estimates

Mobile phone manufacturer Nokia Corporation (NYSE: NOK) announced that it was revising its estimate of its global market share of mobile phones.

Nokia had previously said that it held 38% of the global market. Nokia revised its numbers and now says that it holds 34% of the market, after taking into account the millions of counterfeit phones sold around the world, especially in Asia and emerging markets.

Nokia said that it didn't expect its market share to grow this year but it did expect the market as a whole to grow this year and that the value of Nokia's market share should increase in 2010.