Nokia is barely a representative company of the world economy at the moment. It is lagging in its field pretty much, considering the rise of compeition and major changes in the market shares in cell phones over the last year or so. There are many new players getting stronger and stealing market. iPhones and Blackberry have also had a big impact on Nokia in the last year obviously. Even in a normal economy, it could be expected that Nokia's results wouldn't be too great. They just haven't kept up with the market, especially in many Asian and developing countries.
Results from other companies have ranged from bad to quite ok. There are more to come obviously, but the situation is not all ugly out there at all, except for when it is reported by various Hot Copper posters.
