11/14/2008 2:38:00 PM
Nokia warns of lower sales for Q4 and 2009
Nokia has released a statement readjusting its expectations for the final quarter of this year, as well as for 2009.
The manufacturer said that it expected the number of mobile devices shipped during the current quarter to be 330 million, lower than previously predicted.
The company previously estimated that a total of 1.26 billion handsets would be sold during the year. This figure has been lowered to 1.24 billion.
Nokia believes that sales for its devices and services division will be negatively impacted in the quarter, because of the lower predictions.
The handset giant also warned that the total volume of devices sold in 2009 would be less than the number sold this year, as a result of the continuing economic slowdown.
Nokia’s CEO, Olli-Pekka Kallasvuo, said in a statement: ‘Nokia believes that its advantages of scale, leading brand, superior logistics, low-cost and broad product portfolio are competitive advantages that will enable us to distinguish ourselves from the competition in a challenging 2009.’
The company recently announced a cost-cutting programme, which included 600 job cuts.