At the end of last year I was saying that the smartphone boom was a tide that lifted all boats. That is no longer the case.
But the big story is that there has been a clear non-seasonal counter-cyclical decline in Nokia and RIM’s smartphone performance. RIM’s steady rise has come to an abrupt halt. Nokia’s decline has accelerate precipitously. So much so that Samsung and Apple have overtaken Nokia and RIM and it looks like HTC will overtake RIM within one quarter and perhaps Nokia as well.