The company’s Q1 net sales were E7.01 billion, a drop of 12% from the same period last year. However, its operating margin rose from 18% to 18.3%. Nokia still expects sales growth will be 15% or higher for the second half of the year, but this will mean full year growth of just 4-9%
Q1 handset sales declined by 7% to E5.44 billion, while Nokia Networks saw sales fall 29%, higher than the 25% fall expected by the company. The company expects 2002 to be another difficult year, with GSM sales and the infrastructure market forecasted to decline.
