Nokia beats fourth quarter expectations

9 Jan 2004

Finland-based mobile phone maker Nokia has exceeded its sales and profit guidelines for the fourth quarter of 2003, with total turnover reaching around USD11.1 billion at the end of the year. The company attributed the higher-than-expected results to the recent trend for more expensive handsets with colour screens and cameras, but also said that network operators worldwide were starting to spend money on expanding their networks after three years of little or no investment. Nokia said it expects its success to continue into 2004. The news has sparked a wave of optimism in the telecoms industry, with other equipment suppliers, such as Ericsson and Alcatel, also predicting 2004 to be a profitable year.