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Thursday, 10/14/2004 11:51:00 AM

Thursday, October 14, 2004 11:51:00 AM

Nokia Sales Significantly Affected By Component Shortages

STOCKHOLM -(Dow Jones)- Nokia Corp's. (NOK) sales of mobile phones were significantly held back by component shortages in the third quarter, Chief Executive Jorma Ollila said on a conference call following the release of third-quarter results Thursday.

Ollila said the effect had been in the millions of units, but didn't specify further.

Nokia is prepared to step up its marketing spending in the fourth quarter to support new product launches, according to Ollila.

He dismissed speculation that a rise of EUR400 million in marketing spending was implied in the company's guidance, saying the figure would be lower than that.

He added there wouldn't be any major change in spending for research and development.

Company Web site: http://www.nokia.com

-By Magnus Hansson, Dow Jones Newswires; 46 8 545 130 91; magnus.hansson@dowjones.com

(END) Dow Jones Newswires

http://www.cellular-news.com/story/12108.shtml