Profits fail to meet expectations even as global mobile phone shipments grow Nokia Corp. warned on Tuesday that it will miss its net sales forecast for the first quarter due to falling handset sales in Europe and Asia.Nokia now estimates net sales of €6.6 billion ($7.9 billion as of March 31, the last day of the period being reported), a decline of 2 percent when compared to the same quarter last year, it said in a statement. The Espoo, Finland, company had previously expected growth of between 3 percent and 7 percent for the period.Pointing to an inability to launch new products quickly enough, particularly in its mid-range, Nokia said it was unable to “fully capitalize on positive market developments.” According to Nokia, global mobile phone shipments grew by more than 25 percent in the first quarter while Nokia handset volumes rose by 19 percent, but because the company sold mainly cheaper priced handsets, its profits have not matched expectations. In a press conference call on Tuesday, Nokia executives said the company would be able to thwart the sales decline with the launch of 40 new products this year, something Nokia had previously announced last month.Nokia will announce the full first quarter results together with the second quarter outlook on April 16, it said. Technology Industry