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Nokia Reduces 2nd-Quarter Sales Expectations

By Staff -- TWICE, 6/23/2003

New York — Second quarter mobile phone sales growth is anticipated to be at the low end or below earlier guidance of 4 percent to 12 percent year over year, said Helsinki, Finland-based Nokia.

Slower growth reflects ongoing economic weakness in the United States and Europe, the impact of currency fluctuations and the effect of SARS, said Nokia. The company still expects worldwide handset sales to hit 430 million in 2003, up 10 percent, and global mobile subscribers, to reach 1.6 billion by 2005, up from 1.5 billion.

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