HELSINKI (AP) -- Nokia Corp. says its second-quarter and full year earnings will be worse than earlier expected because of tough competition, especially in the smartphone market.
The world's largest mobile phone maker says its second-quarter result will be "substantially below its previously expected range of €6.1 to €6.6 billion for the second quarter 2011."
The Finland-based company said the update was "primarily due to lower than previously expected average selling prices and mobile device volumes."