Crunch Time for Nokia

Motorola's disappointing fourth-quarter earnings warning underscores the challenges facing global handset makers

When Motorola warned late on Jan. 4 that its fourth-quarter revenues and profits would fall well below Wall Street expectations, the shock waves rippled around the world. Among the hardest-hit was No. 1 mobile-phone maker Nokia, whose shares fell 4.15% in Helsinki trading, to €15.26 ($19.84), and plunged by more than 5% in New York by mid-afternoon on Jan. 5.

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