Nokia Expects More Market Share, But Margin Outlook Disappoints

Nokia Corp., the world's largest maker of mobile phones, unveiled its financial targets for the next two years at its annual investor day Tuesday, raising its operating margin forecasts and stressing it aims to gain market share in mobile devices.

But the shares declined 3.5% in morning trading on the Nasdaq Stock Market as the margin targets were deemed too conservative. Nokia was down $1.40 to $38.84.

Chief Executive Olli Pekka Kallasvuo said group operating margin should reach 16% to 17% within the next one to two years, compared with the 15% the company forecast last November.