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  1. Technology
March 1, 1994


By CBR Staff Writer

Reporting better than expected figures, Nokia Oy says it expects to improve its results in all business groups this year. Nokia Telecommunications and Nokia Mobile Phones reported exceptionally good results compared with the average results in the sector, the company said. The combined operating profit of Telecommunications and Mobile Phones business groups was $864m last year. At the net level, the company was still in deficit, dragged down by its troubled consumer electronics unit, structured around ITT Corp’s former European consumer operations. It is pulling out of cathode ray tube manufacture at a cost of $338m, closing the plant at Esslingen, Germany that employs 2,000.

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