Nokia cuts smartphone forecast for Q2 and FY2010

Last week, Macquarie Group analyst, Phil Cusik, warned that Nokia would have to cut it’s Q2 and FY2010 smartphone forecasts. Today, Mr. Cusik’s warning has become a reality. Bloomberg is reporting that Nokia cut its forecasts due to “a lack of high-end devices and a weaker euro.” Nokia’s stock reacted to the news by dropping 7% to 7.37€. 

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Tags: Nokia, Q2 2010