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Helsinki (pte033/10.06.2003/15:00) - Finnish mobile phone giant Nokia http://www.nokia.com has revised its prognosis for the current quarter, announcing that it expects turnover to be lower than expected.
While turnover growth is expected to be "positive", it will be below the original estimate of 12 per cent. The group says profits should, however, be on the mark, with profits per share reaching 13 to 16 cents. This is due to the strong operating margin in the field of mobile communications.
Nokia attributes the lag in turnover to the general economic climate in Europe and the USA, as well as the effects of the SARS epidemic on consumer behaviour.
Turnover in Nokia's network division is expected to remain the same or be slightly recessive. Nokia says it is possible that its network will see a drop of up to five per cent compared to the year before.
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