Nokia has lowered its revenue forecast for the second half of 2002. The company now expects to see only 10% growth for the year, compared to its previous forecast of 15%.
Nokia is claiming that the reduction is due to a slowdown in handset and other mobile markets. However, it is maintaining its earlier full-year guidance of E0.83 pro forma diluted earnings per share.
The company is confident that its 30 new handset models, which are due to be shipped in 2002, will provide much of the growth. Its involvement in the Open Mobile Alliance will also beneficial as the industry moves towards increasing compatibility and interoperability.