Nokia The more Stuck

Nokia Corp. stock prices, phone manufacturers, fell 14 percent in trading Wednesday (04/11/2012). Price of the stock to 3.29 euros on the Helsinki Stock Exchange. The decline came after management announced the severity of competition in the market that would cut their profits in the first quarter.

Largest mobile phone manufacturer in the world that says there are many factors that push their sales, particularly in rapidly growing markets, like India, the Middle East, Africa, and China.

Finnish companies have to fight against smart phone products, such as the iPhone that Apple Inc. 's issued and brands that use the Android software from Google Inc.. In addition, Nokia also depressed by the manufacturer in Asia that makes cell phones cost less, such as ZTE of China.

Nokia said first-quarter operating margin of negative 3 percent. Previously, they hope to break even. Nokia sold 71 million mobile phones in the first quarter, down from 108 million in 2011.

Exemption of sales of 2.3 billion euros, while sales of smart phones dropped half to 12 million compared to the same period a year earlier.

Warnings about the decline in earnings was still coupled with other bad news. Nokia said it will provide compensation to the users of its newest product, Lumia 900, due to a software problem. Nokia recognizes there is a problem of data connections on Lumia. In fact, Lumia launched a massive two days ago in Times Square and elsewhere in the U.S..

CEO Stephen Elop said that the new product's performance was disappointing. In fact, the company had hoped the launch of Lumia can be offset in the class smart phone.