DGAP-Ad hoc: Nokia Corp english
Nokia on track to reach fourth quarter sales guidance
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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- Earnings estimate to be met or even exceeded
Nokia today provided a scheduled mid-quarter update to the company's business
outlook for the fourth quarter, 2001.
Based on developments during October and November, the company expects total
sequential net sales growth for the Nokia group to reach approximately 20%.
Nokia Networks sales are expected to be up sequentially, but down 20% year on
year, while Nokia Mobile Phones sales for the fourth quarter are expected to
rise 25% compared with the third quarter. All these estimates are in line with
the company's earlier guidance.
Pro forma EPS (diluted) for the fourth quarter is anticipated to be at the upper
end or even above the earlier indicated range of EUR 0.18 - EUR 0.20.
The mobile phone market has developed according to company expectations, with
fourth quarter volumes expected to reach 105-110 million units. Sequental growth
is expected to be highest in the Americas and Europe.
With the competitive pricing environment for mobile phones more stable, channel
inventories normalized and record unit sales for the company in the first two
months of the quarter, Nokia continues to expect significant market share gains
in its mobile handset business this quarter. A strong start for the Nokia 8310
and brisk sales in the US, in both the TDMA and CDMA markets, have made an
important contribution to fourth quarter sales so far.
end of ad-hoc-announcement (c)DGAP 11.12.2001
Issuer's information/explanatory remarks concerning this ad-hoc-announcement:
Nokia is the world leader in mobile communications. Backed by its experience,
innovation, user-friendliness and secure solutions, the company has become the
leading supplier of mobile phones and a leading supplier of mobile, fixed and IP
networks. By adding mobility to the Internet Nokia creates new opportunities
for companies and further enriches the daily lives of people. Nokia is a broadly
held company with listings on six major exchanges.
It should be noted that certain statements herein which are not historical
facts, including, without limitation those regarding 1) the timing of product
deliveries; 2) the Company's ability to develop and implement new products and
technologies; 3) expectations regarding market growth and developments; 4)
expectations for growth and profitability; and 5) statements preceded by
"believes", "expects", "anticipates", "foresees", or similar expressions, are
forward-looking statements. Because such statements involve risks and
uncertainties, actual results may differ materially from the results currently
expected by the Company. Factors that could cause such differences include, but
are not limited to 1) industry conditions, such as the strength of product
demand, the intensity of competition, pricing pressures, the acceptability of
new product introductions such as Internet-ready phones, the introduction of new
products by competitors, the impact of changes in technology, including the
Company's success in the emerging 3G market, the introduction and marketing of
new products and services by operators, the ability of the Company to source
components from third parties without interruption and at reasonable prices,
demand for vendor financing and the Company's ability and willingness to provide
such financing and to mitigate the related exposure, and the success and
financial condition of the Company's strategic partners and customers; 2)
operating factors, such as continued success of manufacturing activities and the
achievement of manufacturing efficiencies therein, continued success of product
development and inventory risks due to shifts in market demand; 3) general
economic conditions in the Company's principal geographic markets and in the
wireless telecommunications industry as a whole, and fluctuations in exchange
rates, including in particular the impact of the exchange rate between the Euro
and the US dollar; as well as 4) the risk factors specified on pages 10 to 16 of
the Company's Form 20-F for the year ended December 31, 2000.
Further information:
Lauri Kivinen, Corporate Communications, tel. +358 7180 34495
Ulla James, Investor Relations, tel. +1 972 894 4880
Antti Räikkönen, Investor Relations, tel. +358 7180 34290
www.nokia.com--------------------------------------------------
WKN:
870737; ISIN:
FI0009000681; Index:
Listed: Amtlicher Handel in Frankfurt;
Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart
