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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (14899)	9/5/2001 2:34:39 PM
From: Ruffian	Read Replies (1) \| Respond to of 34857

Agree.......; Nokia Shares Fall On Profit Fears BY KRISTY BASSUENER SEPTEMBER 5, 2001 Analyst skepticism helped drive down Nokia's share prices today, despite the manufacturer’s attempt Tuesday to assuage earnings fears at New York analyst meetings. By midday Wednesday, shares in the world's No. 1 mobile phone manufacturer fell 8 percent to $13.80. Nokia Mobile Phones President Matti Alahuhta told industry analysts at the Salomon Smith Barney fall technology conference that although there is pressure to slash the prices of its wireless handsets to reclaim some of the market share lost to competitors, the company has no intentions of doing so. In addition, Alahuhuta reiterated Nokia's goal of a 40 percent share of the handset market, Reuters reports. But analysts apparently aren't buying Nokia's stated agenda. Several expect that Nokia will have to either lower its financial forecasts for the year or take more hits in its market share. Competitors have cut prices to move stagnating handsets off store shelves. The strategy cut into Nokia's market share: During the second quarter, the company's share of the global mobile market fell slightly to 34.8 percent from 35.3 percent in the previous quarter, according to Gartner Dataquest. The news follows radically different guidance from Ericsson, which this week admitted expectations of relatively flat growth in mobile handsets through 2002.