Nokia reeling as shares tumble

Poor sales mean Espoo might not even break even this quarter

News goes from bad to worse for ailing mobile maker.

Nokia's annus horribilis has taken yet another turn for the worse, with the Finnish phone maker's shares slipping to their lowest point since 1998. The downward turn came after the company revealed it was changing its profit forecasts and that it was unlikely to break even between April and June this year.

Poor sales are said to be the cause of the slump. Nokia has struggled to match Google Android and Apple's iPhone, and its decision to jump ship to Windows Phone has meant that new Symbian devices have been few and far between.

Analysts claim that new products, specifically the first round of Nokia Windows Phones, should help Nokia regain some status later in the year. But if the problems persist, don't be surprised if those rumours about Microsoft buying out Espoo come true.

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