Nokia Warns Of Weak Sales, Stock Price Drops To 13-Year Low

Nokia has warned that its mobile phone sales won't meet its original estimates in the second quarter.

The news sent the company's shares spiralling down to a 13 year low.

Nokia said in a statement that mobile sales in the second quarter will most likely be under the 6.1 billion euros to 6.6 billion euros range the company had previously estimated, dropping its operating profit below the expected 6 - 9 percent.

The company said that the poor outlook was due to the ‘competitive dynamics and market trends across multiple price categories, particularly in China and Europe’.

The low operating profit has led some industry experts to claim that Nokia would have been better off if it had opted for Google’s Android, which already has a substantial market presence, than going for Microsoft’s Windows Phone 7 platform.

“Nokia phones are looking more outmoded by the month. Had Nokia opted for Android over Windows Phone 7, it’s likely that it could have brought a smartphone with real mass appeal to market, much quicker. Windows Phone 7 is still a work in progress and while Microsoft plays catch-up with Apple and Android, Nokia has little option but to do the best with what’s available,” said Jonathan Leggett, co-founder of Top10.com, The Telegraph reports.