Nokia shares sagged this morning as the world’s largest mobile phone maker posted a 20 percent drop in fourth-quarter net profit to 742 million euros ($1.02 billion) for adjusted earnings of 22 cents a share–not quite as bad as analysts had expected–but also reported shrinking operating margins, a three percent drop in handset shipments and a weak outlook for Q1. CEO Stephen Elop said Nokia “faces some significant challenges in our competitiveness.”
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