Nokia abandon targets
FINNISH mobile phone-maker Nokia abandoned hope of meeting targets set only weeks ago amid fierce competition from Apple’s iPhone and Google’s Android.
Nokia warned it expects three-month sales from devices and services to fall short of its previous forecast set in April of between £5.2billion and £5.7billion.
New boss Stephen Elop blamed weak sales, price cuts and tough rivalry.
It is replacing its Symbian platform with Microsoft software as part of an overhaul launched by Elop.