Mega plano orçamental foi promulgado por Trump

[Pata-Hari]

Aqui fica o gráfico actualizado. Eu devo estar doida, mas parece o short do ano, glups, glups, glups

[Pata-Hari]

NOKIA PRESS RELEASE

January 8, 2004

Nokia fourth quarter 2003 sales and profitability to exceed its
guidance: Stronger than expected Q4 will result in pro forma EPS
(diluted) of EUR 0.28 - 0.29



Nokia today announced that it exceeded its sales and profit guidance
for the fourth quarter of 2003.

Nokia Networks sales in the fourth quarter of 2003 were significantly
higher than estimated and reached approximately EUR 1.7 billion
(versus the previous guidance of EUR 1.4 billion). In addition to
seasonality, this reflected stronger than expected year-end operator
investments. Combined with a favorable product mix, this resulted in
an exceptionally strong pro forma operating margin of approximately
12% (versus the guidance of pro forma operating profit to reach
breakeven) in the fourth quarter 2003.

Nokia Mobile Phones sales in the fourth quarter of 2003 increased to
approximately EUR 7 billion, up 4% year on year (versus the previous
guidance of flat to slightly up) due to better than expected market
development leading to strong Nokia unit volumes. Due to this and a
favorable product mix, Nokia Mobile Phones' pro forma operating
margin continued at the excellent level of between 24% and 25% for
the quarter. At the moment, Nokia is not in a position to comment on
overall mobile industry volume growth for the fourth quarter 2003.
However, Nokia Mobile Phones' fourth quarter unit volumes were 55.3
million.

Total Nokia Group sales in the fourth quarter of 2003 were
approximately EUR 8.8 billion, about the same level as in the
previous year. The company now estimates that fourth quarter 2003 pro
forma EPS (diluted) will be EUR 0.28 - 0.29 (versus the pro forma EPS
(diluted) guidance of EUR 0.21 - 0.23) and that reported EPS
(diluted) will be EUR 0.24 -0.25 (versus the reported EPS (diluted)
guidance of EUR 0.20 - 0.22). The reported fourth quarter EPS
(diluted) was negatively impacted by a goodwill impairment related to
Nokia Networks.

"I'm pleased to report that Nokia achieved excellent fourth quarter
results", said Jorma Ollila, Chairman and CEO of Nokia. "The strong
seasonal development in both Nokia Mobile Phones and Nokia Networks
exceeded even our own expectations. High volumes and an excellent mix
in Nokia Mobile Phones delivered healthy sales and an average selling
price that was up sequentially. Nokia Networks results were impacted
by stronger than expected year-end operator investments and product
mix which resulted in much stronger than expected sales and stronger
than expected operating profits."

Nokia will report the fourth quarter and the full year 2003 on
January 22, 2004.

It should be noted that certain statements herein which are not
historical facts, including, without limitation, those regarding A)
the timing of product deliveries; B) our ability to develop and
implement new products and technologies; C) expectations regarding
market growth and developments; D) expectations for growth and
profitability; and E) statements preceded by "believe," "expect,"
"anticipate," "foresee" or similar expressions, are forward-looking
statements. Because these statements involve risks and uncertainties,
actual results may differ materially from the results that we
currently expect. Factors that could cause these differences include,
but are not limited to: 1) developments in the mobile communications
market including the continued development of the mobile phone
replacement market and the timing and success of the roll-out of new
products and solutions based on 3G and subsequent new technologies;
2) demand for our products and solutions; 3) the development of the
mobile software and services market in general; 4) the availability
of new products and services by network operators; 5) market
acceptance of new products and service introductions; 6) the
intensity of competition in the mobile communications market and
changes in the competitive landscape; 7) the impact of changes in
technology; 8) general economic conditions globally and in our most
important markets; 9) pricing pressures; 10) consolidation or other
structural changes in the mobile communications market; 11) the
success and financial condition of the Company's partners, suppliers
and customers; 12) the management of the Company's customer financing
exposure; 13) the success of our product development; 14) our success
in maintaining efficient manufacturing and logistics as well as high
product quality; 15) the ability of the Company to source quality
components and research and development without interruption and at
acceptable prices; 16) our ability to have access to the complex
technology involving patents and other intellectual property rights
included in our products and solutions; 17) inventory management
risks resulting from shifts in market demand; 18) fluctuations in
exchange rates, including, in particular, the fluctuations between
the euro, which is our reporting currency, and the US dollar and the
Japanese yen; 19) the impact of changes in government policies, laws
or regulations; as well as 20) the risk factors specified on pages 11
to 18 of the Company's Form 20-F for the year ended December 31,
2002.

For more information - Media and Investor Contacts:

Corporate Communications, tel. +358 7180 34495 or +358 7180 34900
Investor Relations Europe, tel. +358 7180 34289
Investor Relations US, tel. +1 972 894 4880

www.nokia.com




This press release was brought to you by Nokia.