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Nokia downgrades sales forecasts thanks to 'competitive environment' (aka, 'doing business')
Look, Nokia, don't sweat it: no one could've ever predicted that Android would get more awesome, or that Apple would announce another iPhone. Sit down, let us bring you a cup of hot chocolate, you'll feel better... goodness, the mobile industry is filled with more wild plot twists than a Univision telenovela, isn't it? Unfortunately, your shareholders might be a little less understanding of the fact that you still haven't wrapped your noodle around the rapidly-changing smartphone market some three and a half years after the introduction of the original iPhone, or that you're blaming "shifts in product mix towards somewhat lower gross margin products" in part for your forecast downgrade -- even though you've been very candid about your desire to move the company's focus toward emerging markets. Why you can't manage to cobble together a competitive operating system with your overwhelming market share, cash, and resources is a bit of a mystery, but maybe it'll all make sense by the time you release second-quarter earnings on July 22. Follow the break for the somber press release.
