Nokia disappoints with fourth-quarter outlook.

(From FT Investor (Stories))

Nokia, the world's leading maker of mobile phones, broadly met market expectations with its third quarter earnings but its fourth quarter outlook disappointed investors as handset prices continued to fall.

Shares in the group fell 3 per cent to [euro]14.23, keeping them well below the [euro]15.10 level at which they started the year.

Analysts said there had been a lack of positive surprises to provide momentum and there was disappointment with the fourth quarter outlook.

The Finnish group predicted fourth quarter pro-forma earnings per share in the range of [euro]0.21 to [euro]0.23, lower than the [euro]0.26 …