Mobile giant Nokia has become the latest telecoms equipment vendor to downgrade its second-half revenues for 2002, again blaming market fragility.
But at the company's mid-year strategy meeting for investors on Thursday in Helsinki, management insisted that it was "confident of the growth and development of the mobile communications industry".
Nokia set its preliminary outlook for the second half of 2002 for year-on-year sales growth of up to 10 per cent, compared with previous expectations for at least 15 per cent.
The handset maker plans to release 30 new models in 2002, and set new long-term annual sales and earnings growth targets of more than 10 per cent from 2003. Nokia has stated that it wants its market share to reach 40 per cent.
Chief executive Jorma Ollila told investors that he was uncertain when the market would pick up and that he did "not have a crystal ball".
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