"The stock fell 7.2 percent to 3.04 euros in Helsinki, cutting the company’s value to 11.4 billion euros ($15 billion). Yesterday, the company dropped 14.5 percent, the steepest fall since May 2011. Espoo, Finland-based Nokia has lost almost 70 billion euros of market capitalization since Apple Inc. (AAPL) (AAPL) started shipping the iPhone in 2007. "Morgan Stanley and Credit Suisse are among banks that cut their price estimates, while Grupo Santander and Societe Generale analysts lowered their ratings. "Elop, 48, shifted to Microsoft’s Windows Phone system 14 months ago, after determining Nokia’s Symbian and Meego couldn’t keep up with Google Inc. (GOOG) (GOOG)’s Android system and the iPhone. Nokia reported an operating loss of about 3 percent of sales at the devices and services division last quarter, citing weak sales in India, the Middle East, Africa and China."