Monday, November 29, 1999

Nokia warns weak phone unit to hit Q2, 2010

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Nokia warned on Tuesday profitability at its key phones unit would be weaker than expected this quarter and in 2010 as it struggles to compete against rivals like Apple in the high-end of the phone market."During the second quarter 2010, multiple factors are negatively impacting Nokia's business to a greater extent than previously expected," Nokia said in a statement."These factors include: the competitive environment, particularly at the high-end of the market, and shifts in product mix towards somewhat lower gross margin products," the firm said."In addition, the recent depreciation of the euro affects Nokia's cost of goods sold, operating expenses and global pricing tactics," Nokia said.
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