Beleaguered Nokia slashes forecast on smartphone competition; shares plummet

“Nokia Oyj, a year into an alliance with Microsoft try to win back market share lost to Apple Inc., cut its profit forecast for the handset division, sending the stock as much as 12 percent lower,” Diana ben-Aaron reports for Bloomberg.

“‘During the first quarter 2012, multiple factors negatively affected Nokia’s devices & services business to a greater extent than previously expected,’ Nokia said, citing competition in smartphones, macro-economic environment and demand for its new products,” ben-Aaron reports.

Read more in the full article here.

MacDailyNews Take: The futility is eclipsed only by the ineptitude.


    1. Heh-heh. Except the auditorium will be pretty empty and those in attendance will be taking notes on their iPads and MBAs. Imagine Ballsy looking out into a field of glowing Apple logos at an MS conference. He’d be reduced to tears, I think.

  1. We all knew once the light of day struck this unlikely deal with the devil the participants would shiver, whither and die. “Nok, Nok, Nokia-on Hell’s Door…”. So long cheap handset maker.

  2. Nokia should have gone with Android. They would have been able to playground with the OS just like they did with Symbian.

    Limiting themselves to an unreleased and untested OS was just suicide.

    They basically gave the game away to Samsung without even a fight.

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