"Sharing infrastructure is bad news for Nokia, Ericsson and others," said Jan-Eric Umiastowski, who helps manage 300 million euros at Financiere Rembrandt in Paris. "It means fewer potential buyers for their equipment."
Nokia also plans to revise its outlook for the second half of this year. The company said the global economic slowdown will have an "adverse effect" on the rest of the year. It will give more detailed forecasts when presenting second-quarter earnings on July 19.
This is the third time that Nokia reduced sales forecasts this year. On March 15 it cut its first-quarter sales growth prediction to 20 percent from between 25 percent and 30 percent. On April 20, it cut its full-year growth forecast to 20 percent from between 25 percent and 35 percent.
The company also plans to take a charge in the second quarter of 190 million euros for cost-cutting measures.
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