Nokia stocks drop on loss forecast

The Finnish mobile maker, Nokia, warned yesterday that the firm might post two consecutive quarters of losses this year as the competition escalate in the market, where the firm's products are struggling to compete with those produced by the technology-giant Apple and also by Samsung as well.

The firm's shares shed 19.0% yesterday after the announcement of the losses forecasts and also as the firm clarified that it found a software bug in the new released Lumia 900 smartphone.

Nokia stock reached the lowest since 1997, where the share is trading in the moment around 3.10 euro, noting that Nokia fell the most last year, cutting more than a half as the firm dropped the Symbian operating software and switched to windows mobile.