Market Insider

Nokia shares fall amid first-quarter sales decline, bearish outlook

Final Trade: Nokia, NorthStar, & more
VIDEO1:2201:22
Final Trade: Nokia, NorthStar, & more

Mobile device maker Nokia saw its stock fall more than 7 percent Tuesday after reporting a bigger-than-expected network sales decline.

The company also said it sees sales declining further this year.

First-quarter network sales dropped 8 percent in from a year ago to $5.9 billion, missing Reuters' forecast of $6.27 billion. Nokia said the decline was due to customers holding off new orders while it integrates its purchase of rival Alcatel-Lucent.

Nokia bought Franco-American Alcatel for $17.8 billion earlier this year to help it more broadly compete with Sweden's Ericsson and China's Huawei in both fixed-line and mobile network equipment.

Nokia buys wearable health firm Withings for $191M

The first unified results after the deal showed growth in Alcatel's fixed-line equipment business softened the blow from the decline of Nokia's mobile wireless business.

Over the past year, Nokia shares have fallen 25 percent.

NOK in past 12 months

Source: FactSet

— Reuters contributed to this report.