Research in Motion (RIM) and Nokia (NYSE:NOK) have both painted gloomy forecasts for handset sales for 2009 due to the worsening economic conditions.

RIM the Canadian BlackBerry manufacturer issued profit warnings blaming the product delay on the BlackBerry Storm and the BlackBerry Bold as wells as economic conditions for the slowdown.

Meanwhile, Nokia the world’s largest mobile phone manufacturer also lowered its outlook for the fourth quarter of this year at the Capital Markets day event after issuing a profit warning in November.

The Finnish Company has estimated that the mobile handset volumes will be cut by 5 percent in the fourth quarter from its previous 330 million handsets.

However Nokia have said they will cut costs into 2009 and 2010 due to the slowing slows to fight off the negative impact.

Source: mobiletoday