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Tuesday, May 31, 2011

Q2 2011 won’t be as good as we first thought, admits Nokia

Nokia has lowered the outlook for its Devices & Services division, admitting that lower sales volumes and lower selling prices are likely to result in lower quarterly sales figures than previously expected. It says this means it’s “no longer appropriate” to provide target figures for 2011, noting that its high-level strategic objectives and targets are unchanged.

Stephen Elop, president and CEO of Nokia, said “Strategy transitions are difficult. We recognize the need to deliver great mobile products, and therefore we must accelerate the pace of our transition. Our teams are aligned, and we have increased confidence that we will ship our first Nokia product with Windows Phone in the fourth quarter 2011.”

Nokia’s next set of quarterly results are due on 21st July.

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Author: The Fonecast
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