HELSINKI (AP) -- Nokia Corp. says heavy competition will hit first-quarter performance especially in developing markets and that it expects no improvement in the second quarter.
The mobile phone maker cites multiple factors for hitting sales of cell phones, including in the smartphone sector, "particularly in India, the Middle East and Africa and China."
The Finnish company said Wednesday that operating margin in the first quarter 2012 was "approximately negative 3 percent, compared to the previously expected range of 'around break-even, ranging either above or below by approximately 2 percentage points.'"
Nokia said that second-quarter performance would not improve from the first quarter.