Nokia has posted better-than-expected fourth-quarter profits but said that it expected weak first-quarter sales due to challenging market conditions.
Nokia, the world's largest mobile phone maker, forecast first-quarter pro forma earnings per share of €0.15 to €0.19 compared with €0.19 in the same 2002 first quarter.
Nokia said it expected sales growth for the group to be lower than the to 9 per cent sales growth estimated for the handset unit.
October-December 2002 pro forma EPS of €0.26 came in higher than the average estimate of €0.24 in a poll of analysts and beat the company's forecast of €0.23-€0.25.
In the fourth quarter of 2001, earnings were €0.24.
