BRACE yourself for disappointment: there may not be a flashy new mobile phone waiting for you under the Christmas tree. On November 14th Nokia, the world’s largest maker of such devices, announced that it expects the industry to sell no more than 330m of them in the fourth quarter—about 6m fewer than in the same period last year and 20m fewer than it predicted just a few months ago. Worse, Nokia expects sales in 2009 to drop below this year’s level. This would make it only the second year ever in which the global handset market has contracted.
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