Nokia issues profit warning

Nokia, the Finnish mobile phone giant, has warned of losses in the first half of 2012, sending shares plummeting on Wednesday.

Nokia, the Finnish mobile phone giant, has warned of losses in the first half of 2012, sending shares plummeting on Wednesday.

The firm, which had originally predicted a flat start to the year, has blamed the fall on stiff competition, particularly in China, Africa, the Middle East and India. Gross margins have declined, especially in the Smart Devices business unit.

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