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Nokia Predicts More Alcatel-Lucent Savings as Quarterly Sales Fall

Finnish telecom equipment maker Nokia (NOK - Get Report) has posted below-forecast first-quarter sales on the back of a weak performance from its mobile networks business.

The company, which in January completed its takeover of France's Alcatel-Lucent, said revenue declined by 9% to €5.6 billion ($6.38 billion). Consensus expectations had pointed to quarterly revenue of at least €5.7 billion, with Bloomberg's poll converging on a figure of €5.76 billion.

Attributing the revenue shortfall to mobile networks...