Nokia (NOK) shares fell on Friday after the world’s leading maker of mobile phones announced that its mobile device market share will decline in the third quarter compared to the second quarter.

Previously, the company expected its share to be about even with that of the previous quarter.

NOK attributed the lower-than-expected market share to its decision not to match aggressive pricing of competitors, as well as market competition and the temporary impact of a slower ramp-up of a mid-range device.

Nevertheless, the company continues to believe its product portfolio will be very attractive for the rest of this year due to its new products and services.

Shares of NOK were down approximately 8.4% this afternoon.

The company is a Zacks #3 Rank. It will be interesting to watch how this news concerning NOK’s third quarter will impact analysts’ earnings estimates in the coming days.

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I happen to spend my summers in Norway. I was quite amazed at the amount of negative response received from European posters on the ECB post. I still believe the ECB is making a mistake. Granted, the ECB is dealing with a host of issues the FED does not have, such as, semi-rigid labor markets. I still believe the ECB’s target and potential slavish adherence with keeping to an inflation target will cause a lot of unnecessary pain to the Euro zone. Yes, I am in the “this inflation is transitory” camp. However, the last few days have seen an orchestrated move in several central bank policies. Most notably, the ECB is telegraphing the potential to raise its rates. The Bank of Canada did not cut rates. India has raised rates. China is making moves to drain liquidity from its system. ...