Earnings: Nokia Posts Profit; But Misses Analyst Estimates; Expects Market Decline

image Nokia (NYSE: NOK) released first quarter 2008 results today, and while it posted a profit, the handset giant missed analyst estimates, hit by both pension costs, and the closing of its plant in Bochum, Germany. Bloomberg reports that net income rose to 1.22 billion euros ($1.95 billion) from 979 million euros ($1.56 billion) a year earlier. In its forecast, however, it said it expects the mobile device market to decline in value in Euro terms in 2008, compared to 2007, citing the weakened US dollar, and the general economic slowdown in the US, and the

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