Nokia: Mid Quarter Guidance
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Nokia: Mid Quarter Guidance
HELSINKI, March 11 (Reuters) - Nokia , the world's largest mobile phone maker, warned on Tuesday sales and earnings in the first quarter would be weaker than expected due to poor sales of networks and consumer reluctance to splash out on flashy colour-screen phones amid tight economic conditions.
Nokia said it forecast January-March sales to declined slightly year-on-year from 7.01 billion euros a year ago. In January, the Finnish-based technology bellwether warned sales would be slightly weaker than growth of flat to nine percent.
The company, which last year cut its sales outlook six times and reported an annual fall in revenues for the first time in more than a decade, said it expected to post a pro forma earnings per share of 0.15-0.17 euros in the first quarter quarter compared with a previous target of 0.15-0.19 euros. Last year, earnings were 0.19 euros in the first quarter.
The warning from Nokia comes on the heels of cautious announcements from other mobile phone makers such as Motorola, who have also found it difficult to grow amid weak consumer confidence and global economic uncertainties.
((Reporting by Paul de Bendern; paul.debendern@reuters.com; Reuters Messaging: paul.debendern.reuters.com@reuters.net; +358-9-680 50 247))
Nokia said it forecast January-March sales to declined slightly year-on-year from 7.01 billion euros a year ago. In January, the Finnish-based technology bellwether warned sales would be slightly weaker than growth of flat to nine percent.
The company, which last year cut its sales outlook six times and reported an annual fall in revenues for the first time in more than a decade, said it expected to post a pro forma earnings per share of 0.15-0.17 euros in the first quarter quarter compared with a previous target of 0.15-0.19 euros. Last year, earnings were 0.19 euros in the first quarter.
The warning from Nokia comes on the heels of cautious announcements from other mobile phone makers such as Motorola, who have also found it difficult to grow amid weak consumer confidence and global economic uncertainties.
((Reporting by Paul de Bendern; paul.debendern@reuters.com; Reuters Messaging: paul.debendern.reuters.com@reuters.net; +358-9-680 50 247))
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