Nokia lowers second quarter expectations

Competition from smartphone makers continues to put pressure on the number one phone maker

Facing continued pressure from Apple and other smartphone makers, Nokia on Wednesday warned that its second quarter earnings would be lower than expected.

The company blames competition at the high end of the market, a shift in product mix toward lower margin products and the depreciation of the euro.

Sales for its devices and services business will be at the lower end or slightly below previous guidance of €6.7 billion ($US8.2 billion) to €7.2 billion, Nokia said. That's primarily due to lower-than-expected average selling prices and device volumes, it said.

While Nokia continues to expect its market share for the full year 2010 to remain the same as 2009, it expects its so-called device value market share to drop slightly. Device value market share is revenue share. The company had expected to slightly grow its mobile device value market share in 2010.

Nokia will report second quarter results on July 22.

While it is still the world's largest handset maker, Nokia is losing market share in the growing smartphone segment. It is working on releasing new phones based on a revamped Symbian OS as well as a new Linux OS called MeeGo. But while it works on those, competitors such as Apple, Google and Research In Motion continue to release popular smartphones.

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