Updated from 4:58 p.m. EDT
A research report released Thursday estimates that cell-phone sales will fall 8.3% this year, but phone-makers' stocks turned a deaf ear to the prediction.
Research firm IDC said shipments for the fourth quarter of 2008 fell 11.8% year over year, according to The Associated Press. Overall, 2008 shipments reportedly grew 4.3%. "Worse-than-expected results and a steady flow of negative economic news are indicating that 2009 will be gloomier than predicted," said IDC researcher Ryan Reith, according to the AP. The outfit expects recovery to begin in the first half of 2010.
That report notwithstanding, shares of the major handset makers were up Thursday. Palm(PALM Quote) shares rose 6.8% to $7.86. Research In Motion(RIMM Quote) rose 2.8% to $41.46. iPhone maker Apple(AAPL Quote) rose 4% to $96.35. Nokia(NOK Quote) rose 8% to $11.04. ...
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