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Nokia cuts second-half growth forecast
HELSINKI, June 20 (Reuters) - The world's largest mobile phone maker Nokia (NOK1V.HE) on Thursday lowered its forecast for second-half sales growth to up to 10 percent from an earlier forecast of at least 15 percent and said it was confident of long-term growth of more than 10 percent.
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Nokia said it remained comfortable with its earlier stated earnings-per-share guidance for full-year pro-forma diluted EPS of 0.83 euros.
"Nokia top management was confident on the growth and development of the mobile communications industry, setting new long-term annual sales and earnings growth targets of more than 10 percent from 2003," Nokia said in a strategy update.
Nokia cut its sales forecasts for the second time in two months due to persistently sluggish demand for mobile phones and networks.
Nokia reiterated its earlier forecast for the global mobile handset market to grow to between 400 million and 420 million units this year from last year's some 380 million, and repeated its target to achieve a global market share of 40 percent.
The downgrade came as part of Nokia's mid-year strategy update on Thursday, which will include presentations to analysts from Chief Executive Jorma Ollila, handset division head Matti Alahuhta and Networks chief Sari Baldauf among others.
They will try to convince analysts gathered in Helsinki that despite flagging results and the resultant sell-off in telecom sector shares, telecom equipment makers have not gone "ex-growth".
mfg
Ob die nachrichten gut oder schlecht sind, wird der tag zeigen!!
Nokia cuts second-half growth forecast
HELSINKI, June 20 (Reuters) - The world's largest mobile phone maker Nokia (NOK1V.HE) on Thursday lowered its forecast for second-half sales growth to up to 10 percent from an earlier forecast of at least 15 percent and said it was confident of long-term growth of more than 10 percent.
ADVERTISEMENT
Nokia said it remained comfortable with its earlier stated earnings-per-share guidance for full-year pro-forma diluted EPS of 0.83 euros.
"Nokia top management was confident on the growth and development of the mobile communications industry, setting new long-term annual sales and earnings growth targets of more than 10 percent from 2003," Nokia said in a strategy update.
Nokia cut its sales forecasts for the second time in two months due to persistently sluggish demand for mobile phones and networks.
Nokia reiterated its earlier forecast for the global mobile handset market to grow to between 400 million and 420 million units this year from last year's some 380 million, and repeated its target to achieve a global market share of 40 percent.
The downgrade came as part of Nokia's mid-year strategy update on Thursday, which will include presentations to analysts from Chief Executive Jorma Ollila, handset division head Matti Alahuhta and Networks chief Sari Baldauf among others.
They will try to convince analysts gathered in Helsinki that despite flagging results and the resultant sell-off in telecom sector shares, telecom equipment makers have not gone "ex-growth".
mfg
Ob die nachrichten gut oder schlecht sind, wird der tag zeigen!!