Nokia has applied for the delisting of its shares from the Frankfurt Stock Exchange due to the decreased trading volumes seen by the firm's shares on this trading floor.
In a statement, Nokia said that trading volumes on the Frankfurt Stock Exchange have decreased over the years to the point where that market currently represents only a small percentage of the firm's trading volumes globally.
However, the shares will continue to be traded there until next year. Nokia said its application for delisting will be made to the Frankfurt Stock Exchange management board, and if approved, the final day of trading for Nokia shares will be sometime during the first half of 2012.
Nokia has already delisted from the stock exchanges of London, Paris and Stockholm since 2003, but its shares will continue to be traded on the NASDAQ OMX Helsinki Stock Exchange and the New York Stock Exchange (NYSE), the firm said.
The news comes as at least one analyst cut sales predictions for Nokia's new Lumia Windows Phone 7 handsets, on which Nokia is pinning its hopes for revitalisation of the company's fortunes in the high-end smartphone market.
Nokia has had a tough time of it recently. It was forced to slash 3,500 jobs in September as part of an ongoing strategy to reduce costs and streamline the business.
The firm also reported poor Q3 financials, with third-quarter operating profits down 60 per cent year-on-year and sales of high-end smartphones slumped by 39 per cent.
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