Nokia and Ericsson network seen hit
Merrill Lynch lowers 2003 wireless equipment estimates By Chris Nuttall FT Investor, 13:15 GMT Mar 8, 2002
LONDON (FT Investor) - Nokia has not even reached its first mid-quarter update of the year and the broker Merrill Lynch is already talking down its prospects not just for 2002, but 2003 as well.
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Nokia will reveal progress on handset and network sales next Tuesday, but Merrill reduced its estimates of what its corporate customers, the wireless operators, will be spending in 2003 in a series of reports on Friday.
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For Siemens [723610, News, Chart, Research] [SI, News, Chart, Research], growth for wireless infrastructure is cut to 5 per cent from 8 per cent. Merrill thinks Siemens, helped by its relationship with NEC, is continuing to gain market share and has the potential to be a strong number three competitor to Nokia and Ericsson. |
