Nokia Warns 2Q Sales, Margins To Fall Short |
| Wall Street Journal - Jun 16, 2010 |
Nokia Corp. (NOK) Wednesday cut its second-quarter financial guidance, the latest sign of its failure to tackle the growing dominance of Apple Inc.'s (AAPL) iPhone and Research in Motion Ltd's (RIM) Blackberry devices in the premium smartphone segment.
Espoo, Finland-based Nokia, the world's largest handset maker, said the lower guidance is due to competition in the high-end market segment, a shift in the product mix to products with lower margins, and the recent depreciation of the euro.
Nokia said it now expects second-quarter net sales in its mobile devices and services business to be at the lower end of its previous guidance for EUR6.7 billion to EUR7.2 billion, due to lower than expected average selling price and device volumes.
The company, which will report second-quarter earnings July 22, also said it expects its devices & services operating margin to be at the low end of, or slightly below, its previously guided range of 9% to 12% in the second quarter, and at the lower end or below its previous 2010 guidance of 11% to 13%.
Read Full Article from Wall Street Journal
- Posted: 2010-06-16 10:13:05
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