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

To: Caxton Rhodes who wrote (16818)	11/27/2001 11:26:42 AM
From: 49thMIMOMander	Read Replies (1) \| Respond to of 34857

event.mediaondemand.com Always try to delete the final file specification to get to the directory, similar to old DOS. Ilmarinen

To: Caxton Rhodes who wrote (16818)	11/27/2001 11:52:15 AM
From: ronho	Read Replies (2) \| Respond to of 34857

NOK sees poor Xmas season GSM phone sales followed by 1st quarter 2001 decline in GSM phones. Looks like GSM has about peaked out and customers waiting for 3G. Also, Germany, for one, has dropped rapidly into a recession. Nokia Cuts 2001 Outlook, Expects Pick-Up in 2nd-Qtr (Update3) By Jonas Dromberg Espoo, Finland, Nov. 27 (Bloomberg) -- Nokia Oyj, the No. 1 mobile-phone maker, cut its forecast for 2001 industry sales for a fifth time as slowing economies lead consumers to delay purchases. The company sees no rebound until the second quarter of next year. Nokia cut its forecast for 2001 cellular-phone sales to 380 million units from 390 million. The company expects between 420 million and 440 million phones will be sold in 2002, Chief Executive Officer Jorma Ollila told investors in New York. The cut in this year's forecast ``is the biggest surprise,'' said Rob Sellar, who helps manage Aberdeen Asset Management's $1.2 billion Global Tech Fund, including Nokia shares. ``That's certainly at the low end of the market's expectations.'' Mobile-phone sales are expected to fall this year for the first time ever as phone companies cut subsidies on new handsets and consumers wait for phones with faster Internet access. Nokia, which sells a third of the world's cell-phones, has weathered the slowdown better than unprofitable rivals such as Motorola Inc. and Ericsson AB. Shares of Nokia, once the most valuable company in Europe, fell 1.74 euros, or 6.2 percent, to 26.49 euros in Helsinki, giving it a market capitalization of 125 billion euros. For the year, they're down 44 percent. Profit Forecast After a decline in first-quarter sales, Nokia expects ``low double-digit'' sales growth in the second quarter, accelerating to as much as 35 percent in the fourth quarter of 2002. Full-year sales are expected to rise 15 percent next year as demand for mobile phones revives. The company reiterated a forecast for profit of between 18 cents and 20 cents a share in the fourth quarter of this year as demand leading up to Christmas boosts sales by 20 percent from the previous quarter. Still, Ollila is pessimistic about an economic revival before the second half of 2002. ``We would be looking for a rebound in the U.S. economy in the fourth quarter,'' he said. ``We're definitely not more optimistic than that. I don't think there will be any good news from Europe in the coming nine months.'' Nokia, which eventually aims to grab a 40 percent share of cell-phone sales, expects the market for networks to remain unchanged or to expand ``slightly'' next year. The company gets more than 70 percent of its sales from phones. New Phones The company expects an operating margin at its network unit of 10 percent in the first half of next year, and predicts that will rise into the ``mid-teens'' in the second half. In the phone unit, the operating margin is seen in the ``high-teens'' throughout next year. Both units are expected to see sales growing 15 percent. Nokia will start shipping phones that allow faster Internet access in the second half of next year. It expects 10 percent of all handsets sold in 2003 to be so-called third-generation phones. Nokia also said it expects 1.5 billion mobile phone users by 2005, and reiterated its outlook for 1 billion users in the first half of next year. The company is introducing new phones, including those with a camera and games, to meet an expected increase in demand. At its previous meeting with investors a year ago, Nokia extended its annual sales growth forecast of 25 percent to 35 percent a year through 2003. Siemens AG said it is sticking to its forecast for 400 million handset sales this year. The German company has yet to make a forecast for next year. There were about 405 million mobile phones sold last year industry-wide.