As the recently released report by the research firm, IDC shows that Nokia has lost its market share by close to 20 per cent in the past one year, the Finnish giant has expectedly reacted to the report saying that the estimates are perhaps wrong.

According to the report, players like Micromax, Spice, G' Five have been able to increase their market share in the past few months, the market leader has been losing market share constantly. The report further pointed out the fact that the market share of the market leader has declined from 54.1 per cent in 2009 to 36 per cent.

The report also said that the dual-SIM market in the handset category stands at 38.5% but a statement from Nokia says that the dual-SIM market stands at 22% of the total handset market.

Moreover, the company also questioned the method of calculation by mentioning that shipments are not equivalent to actual sales and market share.

The report by IDC further said that there are close to 35 brands present in the Indian handset market who are slugging hard to get their share out of this lucrative pie.