Smart Phone Stocks Nose Dive

Over the past few months we have seen the New York Stock Exchange fluctuate in but mostly down due to the economic break down.

Lately the trend has been getting better and stocks are slowly coming back with exception to the smart phone stock. With slow growth being reported from Nokia, Apple, Palm, and RIM ( research in motion)  they all have taken a hit and their stocks plummeted on Monday.

Smart phone stocks have come down due to the slow down of sales growth with smart phones. Gartner one of the research companies, stated that while there has still been growth, things have taken a sharp drop since the same time last year. The current economy seems to have taken a toll on this market and will continue to affect sales until we are out of the recession or until stability has been once more put into place.

Smart phone world wide sales in the second quarter of 2009 are around 32 million units with only 25 % coming from North America, where as last year it was a wopping 79 % . Nokia holds around  45 % of total sales with RIM holding around 17 % which has doubled from last year.

The industry seems to all be seeing affects from the economic crunch at this time, but some of the smaller companies may just dissapear completely due to not being able to hold their own in this crisis.I am sure most of the large companies such as Apple, Nokia, Palm, RIM, and Motorola will see it through the hard times of the recession and shine in the end.

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