Nokia (NOK) Reports Soft Q1 Earnings; Shares Fall 12%

Nokia (NYSE: NOK) reports Q1 EPS of EUR$0.32, 3 cents lower than the analyst estimate of EUR$0.35. Revenues for the quarter were EUR$12.66 billion, versus the consensus of EUR$12.75 billion.

Sees mobile device market down in 2008.

Nokia is getting beaten down in per-open trading on the soft earnings and concerning outlook. Shares of Nokia are down about $4.14, or about 12%, to $29.55 after closing at $33.69 yesterday.

Nokia Corporation designs, manufactures, and sells a range of mobile devices and networks with services and software worldwide. [BCS]

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