Valor a que a banca avalia as casas sobe mais 20 euros para novo recorde

[Antunes]

...esta menina!

[Pata-Hari]

September 9, 2003

Nokia expects EPS at the high end or slightly above third-quarter
guidance

Nokia today provided a scheduled mid-quarter update to the company's
business outlook for the third quarter 2003.

Based on developments in the first two months of the third quarter,
pro forma EPS (diluted) for the Nokia group is expected to be at the
high end or slightly above previously stated guidance of EUR 0.15 to
EUR 0.17. This mainly reflects continued strong mobile phone pro
forma operating margins. Reported EPS (diluted) is also expected to
be at the high end or slightly above the previously guided range of
EUR 0.14 to EUR 0.16.

In mobile phones, the company continues to expect third-quarter sales
to be flat or slightly down year on year, largely due to a major
depreciation of the US dollar compared with the same period in 2002.
Strong profitability at Nokia Mobile Phones is expected to continue.
During the quarter, mobile phone volume growth for Nokia and the
industry overall has been strong. Nokia continues to expect the
company to show faster-than-market volume growth of well over 10%
year on year for the third quarter.

In mobile networks, the market appears to be stabilising and ongoing
restructuring at Nokia Networks is continuing on plan. Third-quarter
sales at Nokia Networks are estimated to decline by 15% to 20% year
on year, in line with previous guidance, while pro forma operating
profit is now expected to be close to breakeven.

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.


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

- Nokia plans a 3Q announcement for October 16, 2003.
- A results announcement for 4Q 2003 is planned for January 22, 2004.