Nokia says network sales slipping
Nokia cut its third-quarter results forecast because of greater-than-expected decline of GSM network sales in Europe and Asia.
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“The GSM network environment in challenging,” said Nokia CFO Olli-Pekka Kallasvuo in a conference call with analysts.
As a result, Nokia expects network sales to decline by about 5% compared with the third quarter 2001. Pro forma operating margins will be about 5% for the third quarter, said Nokia.
Handset sales, however, are increasing, said Kallasvuo. The company said sales are expected to grow by 4% to 9% compared with last year. Demand for mobile phones has picked up in all major regions in the last two months, he said. The company is holding steady with its earlier forecast that about 400 million handsets will be sold worldwide this year.
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