Nokias sales are heading back up.
The Finnish mobile phone giant announced Tuesday that it is on track to meet or beat estimates for the fiscal 2001 fourth quarter, the results of which are scheduled to be announced in January 2002.
Based on October and November developments, Nokia said it expects net sales growth of approximately 20 percent. Mobile phone sales for the fourth quarter are expected to be up 25 percent from the third quarter. Nokia Networks sales are also expected to be up this quarter, but down 20 percent from this time last year. These estimates are in line with Nokias earlier guidance.
Nokia said that it has normalized channel inventories, and recorded record unit sales this quarter, with volumes expected to reach 105-110 million units, with the highest sales growth this quarter recorded in the Americas and Europe. Nokias said its 8310 model has made a strong start, and sales in the U.S., in both the TDMA and CDMA markets, have been very strong.
Pro forma earnings per share are expected to be in the range of 0.18 to 0.20 euros, or 16 cents in American currency.