Nokia cut its sales growth forecast sharply again for the second-quarter today due to poor demand for mobile phones and networks but said it would reach its profit target.
Nokia, which makes more than one in three mobile phones sold globally, also said in a statement April-June net sales would fall two to six per cent year-on-year against a previous target of two to seven per cent growth.
The world's largest cellphone maker, hit like rivals by poor demand for handsets and network equipment, said it would meet its pro forma second-quarter earnings per share target of 18-20 cents compared to 17 cents a year-ago.
Nokia has been hurt in recent months by increased competition from companies like Siemens and Samsung, and the lack of attractive data services to boost the replacement market for handsets.