Nokia Warns

Shares in Nokia Corp. tumbled after the leading cell phone maker said its third-quarter global market share will decline from second-quarter levels.

Nokia said it was losing share because of its ''tactical decision'' not to match the aggressive price cuts of some of its competitors, seeking instead to be ''sustainably profitable in the longer term.'' Nokia was upbeat about the rest of 2008, saying it still aimed to increase its market share for the year.

Nokia is due to report its third quarter results Oct. 16.

Via NYT

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