Nokia Warns Sales but Keeps Profit Goal
Nokia cut it Q3 sales target due to the slow down in wireless infrastructure sales. But they believe they can still meet profit goals due cost cutting and the launch of new high margin handsets. Network infrastructure only accounts for about a third of Nokia’s business, the bulk coming from handset sales. But if infrastructure sales don’t pick up in the long run, especially for WCDMA equipment, the company will have a hard time growing its overall business.