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Posted AT 11:50 AM EST on 05/09/08

Nokia sees market share falling

BRETT YOUNG

Reuters

HELSINKI — Top cellphone maker Nokia Oyj said it had sacrificed market share in the third quarter to defend profits in the midst of a price war, sending its shares as much as 14 per cent lower on Friday. As the global economic slowdown bites and the cost of basic items like food rises, consumers in many countries are cutting their spending on gadgets, hurting phone manufacturers.

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