Is anyone surprised by Nokia's (NYSE: NOK) troubles? Following rumblings that the company was under pressure to reduce its forecast, the mobile phone maker did just that on Wednesday. In this video, Fool analyst Eric Bleeker looks at the company's continued woes.

The guidance cut has nothing to do with sales. According to researcher Gartner's estimates, Nokia still commands more than 10 times the global mobile phone market share of rival Apple (Nasdaq: AAPL), and about three times the smartphone market share. However, Nokia's market capitalization is about eight times less than its American competitor. While Nokia controls volume, it's losing badly on the high end, and having to shift product mix to low-end feature phones.

Unfortunately, all of the outsized profits in today's mobile world come from high-end offerings. Smartphones all offer their own differentiated environment, and they command premium selling prices for the experience. In this valuable space, Nokia has lacked its competitors' vision to create a seamless platform beloved by developers. Thus, mobile programmers have instead rushed to Google's (Nasdaq: GOOG) Android and the iPhone, despite Nokia's larger user base. Also, the company never gained enterprise cachet like Research In Motion (Nasdaq: RIMM), especially in the United States. While more business users globally may use Nokia phones, RIM's loyal fan base allows it to collect far high selling prices on its products.

To hear Eric's full thoughts on Nokia, and whether the thesis for buying still holds up, watch the video below: