Nokia Paints a Pessimistic Q2 Profit Picture

Paul Lilly

Things aren't looking so hot over at Nokia, which is still the world's largest maker of mobile phones. According to the company's recently updated full year 2010 outlook, Devices & Services sales aren't going to meet expectations.

"Nokia now expects Devices & Services net sales to be at the lower end of, or slightly below, its previously expected range of EUR 6.7 billion to EUR 7.2 billion for the second quarter 2010," Nokia said. "This update is primarily due to lower than previously expected average selling prices and mobile device volumes."

According to Nokia, industry mobile device volumes will shoot up by about 10 percent in 2010 compared to 2009. Unfortunately for Nokia, the handset maker doesn't expect to make the most out of it, saying that its market share will likely remain flat for the rest of 2010.

Get the full scoop here .

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