Nokia Expects to Meet Estimates
Dec. 11, 2001
HELSINKI, Finland (AP) _ Nokia, the world's biggest cell phone maker, said Tuesday it expects its sales to rise 20 percent during the fourth quarter and its earnings would meet or slightly exceed its previous estimates.
The company recently projected the number of mobile phones sold would reach 105-110 million units. Last year it sold 128 million handsets.
Nokia said it expects ``significant market share gains in mobile handset business this quarter,'' attributing the growth to the good reception of new models, and sales increases in the United States.
After the announcement, Nokia's share price was up 3.5 percent at the Helsinki Exchange, trading at 28.4 euros ($25.10).
Nokia has sales in 130 countries, and some 59,000 employees. Net profit in 2000 was 3.9 billion euros ($3.5 billion), up from 2.6 billion euros the previous year.
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