Nokia Corp. put a damper on the stock market as it announced its guidance for the third quarter. Although Nokia expects faster-than expected volume growth for its handsets for the quarter, on a year-on-year basis, the company expects sales to be flat or slightly down, citing lower prices and the U.S. dollar depreciation.
“Strong profitability at Nokia Mobile, phone volume growth for Nokia and the industry overall has been strong,” said the company.
Regarding its network infrastructure sales, Nokia estimates a year-on-year decline of between 15 percent and 20 percent and a pro forma profit close to the breakeven point.
Nokia has been the stalwart in the stock market for the mobile sector, however, market watchers are concerned the company’s growth rate cannot continue during coming quarters.
