Nokia Shares Fall to Five-Year Low as Rivals Gain Market Share

Shares of Nokia Oyj, the world's largest mobile-phone maker, fell to their lowest in more than five years as competitors gain market share with more popular models. The shares fell 20 cents, or 1.8 percent, to 10.90 euros in Helsinki, the lowest closing price since December 1998. Nokia is worth 50.8 billion euros ($61 billion), down from a peak of more than 300 billion euros in 2000. As Motorola Inc. and Samsung Electronics Co. models with cameras and color screens gain in popularity, Nokia said last month that revenue may drop for a fourth straight quarter. Revenue at Espoo, Finland-based Nokia fell in 2002 and 2003 as Western markets became saturated, phone prices slipped and the dollar slumped against the euro. Shares of Nokia have declined 20.5 percent this year, while Motorola, the second-biggest handset maker, gained 34 percent and Samsung, the No. 3, has added 1.6 percent. Nokia's decline this year means Samsung has overtaken the Finnish company as the world's largest technology company outside the U.S., based on market value.