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source:
http://www.reuters.com/newsAr[....]s&storyID=4852357§ion=news
HELSINKI (Reuters) - Mobile phone maker Nokia shocked investors for the second time in 10 days on Friday as it admitted cheaper, funkier phones from rivals were eating into its market lead, sending its shares sharply lower.
Nokia, which makes more than one in three handsets sold globally, said second-quarter earnings would fall and sales could also drop. It said margins at its key mobile phones unit would be hit until its more competitive models hit the shops.
"There have been execution delays. We should have been six months ahead, ideally, with new product introductions," Chief Executive Jorma Ollila told a conference call.
"(Market) share is important, and we want to make sure we reach stability ... sooner rather than later," he said.
The outlook confirmed analysts' fears Nokia's patchy handset portfolio was wilting against rivals like U.S. Motorola and Korea's Samsung Electronics, which offer a broader line of medium-priced phones with color screens and built-in cameras.
Nokia, whose handsets were the market standard for years, has lagged innovations in design by competitors, especially in fold-away phones which have seen a boom in popularity.
Samsung earlier posted record earnings, said it expects its market share in January-March to have risen by almost four percentage points to 14 percent, and called for sales to continue rising in the second quarter.
"It does not look good. It is obvious that they are losing market share on mobile phones, and the guidance indicates that next quarter will be worse than we expected," said analyst Urban Ekelund at Swedish research group Redeye.
"This is bad, there is no room for explanations ... The second quarter will be weakish and eyes are already on the second half," added analyst Jussi Hyoty at FIM Securities.
Q2 EPS TO SINK
Nokia said second-quarter earnings per share (EPS) would be between 0.13-0.15 euros, well below the underlying figure of some 0.19 euros from a year ago and missing all expectations in a Reuters poll that called for an EPS of 0.18 euros. Continued ...
© Reuters 2004. All Rights Reserved.
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Posted: 2004-04-16 19:57:59
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Merci mon ami, u made my day ;-)
This message was posted from a R520
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Posted: 2004-04-16 20:04:47
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This is the 4 time someone posted it. I feel a lock is booming. :-D
This message was posted from a T300
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Posted: 2004-04-16 20:11:33
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