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More Pain for Nokia, RIM Seen as Smartphones Get Cheaper

By REUTERS, June 21, 2011, (Reporting by Mary Meyase and Himank Sharma in Bangalore; Editing by Roshni Menon, Saumyadeb Chakrabarty)


(Reuters) - Credit Suisse said competitive pressure in the smartphone industry was likely to increase over the next 12-18 months as a wave of low-end Android phones hits the market and Apple is seen releasing a cheaper iPhone in 2012.

The brokerage, however, said the overall market for mobile phones would continue to grow as low-end smartphones phase out feature phones, a term used to describe phones with less computing power.

Credit Suisse said Apple and Samsung Electronics would be the biggest gainers in the smartphone market and sees increasing signs of vulnerability for BlackBerry-maker Research in Motion, Nokia and Motorola Mobility.

The brokerage downgraded Motorola Mobility by two notches to "underperform." Shares of the company, which was spun off from Motorola Inc in January, were down more than 3 percent in morning trade on the New York Stock Exchange.