Nokia Corp., the world’s largest cell phone maker, on Wednesday warned that second-quarter profits at its cell phone unit may not be as strong as previously thought, sending its shares down as much as 10 percent on Wednesday.
The Finnish technology company, which in recent years has fallen behind rivals in developing high-end smartphones, cited heightened competition and a weak euro as its woes.
The company has struggled to match Apple’s iPhone and Research In Motion, Ltd.’s BlackBerry in the lucrative and expanding smartphone market. It is also not a part of a slate of recent phone releases running Google’s Android operating system.
The latest version of Nokia’s own operating system, Symbian 3, was delayed as of April.
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