UPDATE 1-SocGen cuts Nokia to sell, shares fall

* Expects sharp reduction in Nokia's cash pile

* Says operating losses, restructuring costs to lower cash

* Cuts Nokia price target to eur 1.80 from eur 3

* Shares fall 6 pct

May 14 (Reuters) - Operating losses and restructuring costs will reduce Nokia Oyj's cash pile sharply, said Societe Generale, which forecast a steep fall in handset sales and cut its rating on the Finnish cellphone maker's stock to "sell" from "hold."

"If Nokia follows a similar trajectory to Motorola, there could be a further substantial fall in sales with further restructuring," analyst Andy Perkins said.

"Such an additional fall could be enough to burn through most of Nokia's existing cash pile and even bring into question Nokia's very survival."

Perkins - rated four stars by StarMine for the accuracy of his earnings estimates on Nokia and ranked 17th out of 46 analysts covering the stock - expects handset volumes to fall 30 percent from 2011 to 2013.

Nokia recently lost its position as the maker of most number of cellphones to Samsung Electronics.

He forecast an additional 2 billion euro in charges for Nokia's device and services business over the next two years and cut his price target on the stock to 1.80 euros from 3.00 euros.

Last month, ratings agencies Fitch and Standard & Poor's cut their credit rating on the company to "junk" status, given its bleak outlook.

Shares of Nokia fell 6 percent to 2.37 euros on Monday morning, with 11.4 million Nokia shares changing hands by 0814 GMT on Monday.

The stock was the top loser on the FTSE Eurofirst 300 index and the Stoxx 600 European technology index.

Investors have seen the value of their Nokia holdings fall 90 percent in less than five years.