Nokia investors brace for weak second-quarter phone sales

Nokia investors are bracing for the Finnish mobile phone maker to report weak sales of the Lumia phones that are crucial to its turnaround effort and a rapidly diminishing cash pile, in its second-quarter results later on Thursday. Once the world's dominant mobile phone maker, Nokia was late to embrace smartphones and has lost out to Apple and Samsung Electronics in the most profitable part of the market.It's fighting back with new phones that use Microsoft's Windows software, but while the Lumia models have won some good reviews they have had relatively little success among consumers who are choosing Apple's iPhones and phones running Google's Android software instead. Analysts expect Nokia sold 4 million Windows phones in the second quarter - roughly doubling from the first quarter - but still only a fraction of Apple's expected sales of 30 million iPhones or Samsung's 50 million smartphones.Click here for full story