The world's leading mobile phone maker Nokia today declined to comment on renewed market rumours that it would follow in the footsteps of rivals and warn about first quarter profits.
Dealers in London and Helsinki said talk on the market was that Nokia would come out with a profit statement today ahead of a meeting with 30 investors tomorrow.
Nokia's shares traded 3.4 per cent lower at euro 23.69 euros this morning.
Arch-rival Ericsson - which warned on Monday it would post a first-quarter loss - traded 3.9 per cent lower this morning after credit rating agency Standard & Poor's said it was placing its rating on debt issued by the Swedish company on creditwatch with negative implications.
Pressure has mounted on Nokia to clarify first-quarter forecasts after leading mobile equipment makers have either lowered their forecasts or adjusted their outlook on the back of a dramatic fall in consumer demand for wireless products in January and February.
These companies include Ericsson, Motorola, Siemens and Alcatel of France.
Analysts said the coming days were the last before Nokia entered the so-called 'silent period' - the roughly four-week period before results when firms do not talk to the market about earnings.
Nokia is due to release its report on April 26th. Nokia warned in January that first quarter earnings per share would be flat year-on-year at euro 0.19 due to worsening economic conditions, particularly in the United States, and a drive to aggressively gain further market share in handsets.