INSTANT VIEW: Nokia warns on Q3, stock tumbles

HELSINKI (Reuters) - The world's top mobile phone maker Nokia (NOK1V.HE) warned on Friday that the soft global economy, tough competition and a weak handset portfolio would hit its market share in the third quarter.

Nokia shares tumbled to as low as 13.51 euros in the wake of the news. They were trading down 11.2 percent at 13.93 euros at 1302 GMT.

Following are some analyst reactions to the news:

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GREGER JOHANSSON, REDEYE

"I think the share reaction is bit much. It's not that bad, as the market itself still seems to be there. Even if there is an impact from consumer confidence, there is still 10 percent volume growth this year, and Q3 looks rather ok as well."

"It seems to be their own decisions to a large extent -- and the fact that they have failed somewhat regarding ramp-up -- behind not reaching the market share they had believed. But I think it could come back later on."

MICHAEL SCHRODER, GLITNIR

"It is a disappointment that Nokia's market share would decrease from the second quarter. Of course the reason for that is good -- it has not participated in aggressive pricing and that will show somewhat in lowering third-quarter estimates. Positive is that it still sees market volumes being up from the previous quarter and that it still sees full-year market volumes up 10 percent or more. The worst threats seem not to have materialized yet."

(Reporting by Helsinki and Stockholm newsrooms)