Nokia May Beat Earnings Target
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Nokia, the top cellular-phone maker, said it may exceed its fourth-quarter earnings target as it cuts costs and gains market share.
Earnings per share will be “at the upper end or even above” the 18-to-20-cent range given in October.
Sales are expected to rise 20% from the third quarter, he said. Nokia has reduced its work force this year by 4,144, or 7%. Nokia, the only profitable cellular-phone company, introduced three new phones last month to stay ahead of Ericsson, Siemens and Motorola Inc.
The Espoo, Finland-based company said it is winning significant market share since the introduction of the 8310-series of phones, its first phone based on the so-called general packet radio service, or GPRS, which allows faster Internet connections.
Nokia’s American depositary receipts gained $1.71, or 7.2%, to $25.50 on the NYSE.
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