Nokia has set new financial targets and forecasts for itself and the mobile industry, saying it expects ‘attractive’ revenue growth this year.
The Finnish manufacturer said mobile device industry revenue will grow in 2011 and over the longer-term, driven by the further adoption of smartphones by consumers globally and the further adoption of mobile devices and services, particularly in emerging markets.
However, over the longer-term, Nokia expects mobile device industry gross margins to come under pressure due to competitive factors.
Full-year prospects for Nokia’s Devices & Services business are subject to ‘significant uncertainties’, Nokia said, so would not give annual targets for 2011
However, Nokia expects to continue to provide short-term quarterly forecasts to indicate its progress in the company's interim reports, as well as annual targets when circumstances allow it to do so.
Nokia said it expects 2011 and 2012 to be ‘transition years’, as the company invests to build its planned ecosystem with Microsoft.