Nokia Corp., the world’s biggest mobile phone maker, warned on Thursday profit margins are likely to be lower than previously forecast, as competition intensified in the premium smartphone market.
The Finland-based company reported net profit of EUR349 million (USD467.6 million) for the three months to 31 March, up from EUR122 million (USD161.4 million) a year earlier but below analysts’ expectations for net profit of EUR370 million (USD489.5 million).
(Source: The Wall Street Journal Online)