Nokia today lowered its second-quarter and full-year guidance for the 2011 calendar year, causing its stock to plummet. It cited competitive pressures, cheaper devices with lower margins, and “pricing tactics” as the reasons that Devices & Services net sales would be “substantially below its previously expected range of EUR 6.1 billion to EUR 6.6 billion for the second quarter 2011.” It also “believes it is no longer appropriate to provide annual targets for 2011.”
On a more positive note, Nokia indicated that it has “increased confidence” that it will be able to ship its first Nokia product with Windows Phone sometime in the fourth quarter.
Some rumours have suggested that this could be either a Nokia N8 or X7 modified to replace Symbian with Windows Phone.