Nokia sees 10% cell phone growth in 2008

Global cellular phone giant Nokia predicts the global handset market will grow 10% in 2008 to 1.1 billion units. Samsung Electronics, the world's No. 2 handset maker, last week forecast 12% growth for the market to 1.28 billion units. Motorola, which has fallen to third place in market share, has yet to offer a 2008 forecast.

In the annual meeting with investors, held in Amsterdam, Nokia executives projected that industrywide mobile device volume growth in 2008 will be above 15% in Asia-Pacific, China and Middle East and Africa but below 10% in North America, Europe and Latin America. Nokia also said the four billion mobile subscriptions mark now is expected to be reached in 2009, rather than in 2010 as previously forecast.