Nokia component orders slowed prior to critical Lumia 920 and 820 product launch

Nokia’s Windows 8 smartphone launch is shaping up to be a make or break event for the company, following reports of a sharp fall in its component orders for existing models.

According to DigiTimes, key mobile phone component suppliers claim the once-dominant phone maker has only placed component orders for around 8.5 million smartphones in the third quarter.

If the reports are accurate, it means the phone maker anticipates its shipments will shrink to a tiny fraction of the world phone market. Leading analysts estimate worldwide shipments of mobile phones stand at around 419 million units per quarter, including 153 million smartphones per quarter.

Last week, Nokia posted a cryptic video claiming that “things are about to change” at its September 5 announcement ahead of today’s announcement of the Lumia 820 and 920 smartphones.

However, there is also mounting pressure from shareholders and former executives for current CEO Stephen Elop to resign, which is likely to intensify should Nokia’s new handsets fail to deliver a strong performance in the market.