Mid-day Minute - July 16 Tech.

<strong>Nokia cuts profit, market share outlook</strong>

The world's top cellphone maker Nokia cut on Thursday its forecast for second half profitability and 2009 market share at its key phone unit, sending its shares sharply lower. Nokia said its second-half underlying operating profit margin at its key phone unit would be at the first-half level of 11.3 percent. It had earlier forecast a second-half margin of 13-19 percent. <a href="http://www.ibtimes.com/articles/20090716/nokia-cuts-profit-market-share-outlook.htm">Read Full Article Here</a>.

<strong>Sony Ericsson loses market share, posts pre-tax loss in 2Q</strong>

Mobile phone maker Sony Ericsson braced for a tough second half of 2009 after losing market share in the second quarter as its mid-range products found little favor among a declining customer base. The handset industry this year faces its worst downturn on record and Sony Ericsson expects the global market to shrink at least 10 percent. <a href="http://www.ibtimes.com/articles/20090716/sony-ericsson-loses-market-share-sees-tough-h2.htm">Read Full Article Here</a>.

<strong>RIM settles patent suit by paying $267.5 million</strong>

BlackBerry maker Research In Motion Ltd. agreed to pay $267.5 million to Visto Corp. to end a long-running patent dispute. The settlement is expected to be completed next week.

Read today's <a href="http://www.ibtimes.com/articles/20090716/google-ibm-earnings-preview.htm">Tech Outlook </a>- What is still to come.&nbsp;