Nokia had its day back in 2008...but now it has strong competition not only from Apple but also from Samsung
It's a dying company and the reason for its latest fall was that its projection for 2012 was not good by their own admission
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Nokia Corporation (ADR) (NYSE:NOK) stock plunged 17.30% to $4.16 in the pre-market hour after the company said that its first quarter performance would be affected owing to intense competition, particularly in India, the Middle East, Africa and China. The company now expects first-quarter 2012 non-IFRS Devices & Services operating margin to be about negative 3%.
The company also projects first-quarter 2012 Devices & Services net sales of 4.2 billion euros, comprised of Mobile Phones net sales of 2.3 billion euros.