Nokia Corporation (NOK)

[Globaltrnr]

Nokia Corp. (NOK) will announce a new product on Wednesday, according to the conversations.nokia.com website on Monday.
It comes less than a week after the company said a slide in demand for its basic phones dented first-quarter revenue.
A Nokia mobile-phone division executive will deliver the news, the short website post said. Nokia declined more information when contacted by The Wall Street Journal .
First-quarter mobile-phone shipments fell 21% to 55.8 million units from 70.8 million a year earlier, Nokia said on Thursday. Increased competition from Samsung Electronics Co. Ltd (005930.SE) and low-end, semi-branded Chinese handset makers is to blame, Chief Executive Stephen Elop said. Remaining a force in basic phones--important in emerging markets--is a priority, Mr. Elop said, adding that Nokia has new products to be launched.