Nokia meets profit target of euro 1.48bn

The world's largest mobile phone manufacturer Nokia said today its pre-tax profit rose 10 per cent in the first quarter to euro…

The world's largest mobile phone manufacturer Nokia said today its pre-tax profit rose 10 per cent in the first quarter to euro 1.48 billion. This slightly exceeded analysts' forecasts.

Nokia said its sales were up 22 per cent to euro 8 billion during the quarter and predicted growth of 20 per cent in the second quarter and full year. It forecast growth of 25 to 35 per cent in 2002.

The group reported an 8 per cent rise in operating profit to euro 1.44 billion.

AFP

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