Orlando, FL 3/11/12 (StreetBeat) – Nokia Corp.'s (NYSE: NOK) stock was down 14.71 percent Wednesday morning, trading around $4.29 per share.The Finland-based mobile products company took the hit after it issued its second profit warning in less than a year, including a lower first quarter 2012 outlook for its devices and services. The company said that intense competition in fast growing markets would hurt its first quarter performance, the Wall Street Journal reported.
"Our disappointing Devices & Services first quarter 2012 financial results and outlook for the second quarter 2012 illustrates that our Devices & Services business continues to be in the midst of transition," said Stephen Elop, the president and CEO of Nokia in a prepared statement.
Nokia has offices in North Texas, primarily in Irving.
The company just teamed with Dallas-based AT&T http://www.bizjournals.com/ Inc. on the release of its Windows Phone this past weekend.
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