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Nokia sees strong Q1 sales after surprising Q4
Thu Jan 27, 2005 06:12 AM ET
HELSINKI, Jan 27 (Reuters) - The world's top mobile phone maker Nokia forecast on Thursday strong first-quarter sales as its handset mix improves, after posting a less-than-expected drop in fourth-quarter earnings due to strong Christmas demand.
Nokia said it expected January to March earnings per share of 0.12-0.15 euros, down from 0.17 euros a year ago and hit by a charge related to job cuts at its Multimedia unit. Analysts in a Reuters poll expected 0.15 euros per share.

Sales were seen at 7-7.3 billion euros, well above expectations of 6.87 billion in the poll.

Fourth-quarter earnings fell to 0.23 euros per share from 0.25 euros a year ago, but crushed the Finnish company's forecast of 0.16-0.18 euros and expectations of 0.19 euros.

The result caps a grim year for Nokia. It warned in April it was losing handset market due to a patchy portfolio, and spent the rest of 2004 cutting prices to halt and partially reverse the damage. It proposed a dividend of 0.33 euros per share.


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