Nokia Blows Up The Mobile Sector: A Damage Report

Nokia (NOK) this morning said out loud what everyone in the mobile phone business kind of knew already: demand in 2009 is going to be down from 2008 . This is an industry that had become accustomed to seeing unit growth in the 10% plus range; to see the industry’s most important player forecast a down year is a shocker, even if you suspected that something like this was inevitable. Nokia’s warning is weighing heavily on a variety of players in industry: other phone companies; wireless carriers; chip makers; and even contract manufacturers. Here’s a look at the damage: Nokia is down $1.66, or 11.7%, to $12.49. Research In Motion (RIMM) is down $3.53, or 8.1%, to $40.27. Palm (PALM) is down 45 cents, or 15.5%, to $2.45. Apple (AAPL) is down $5.22, or 5.4%, to $91.22. Ericsson (ERIC) is down 59 cents, or 8.3%, to $6.55. Skyworks (SWKS) is down 87 cents, or 14.2%, to $5.26. RF Micro (RFMD) is down 23 cents, or 15.1%, to $1.33. Texas Instruments  ... (link)