Nokia Expects to Meet 3rd-Quarter Forecast

Finland’s Nokia, the largest maker of mobile phones, predicted it will meet its third-quarter earnings target despite lower sales during the period.

The company said it expects earnings for the quarter ending this month of 13 cents to 14 cents, as was forecast in July. However, revenue probably will be down by about 5%, compared with earlier expectations of flat to 5% year-on-year growth, it said.

Despite a global economic slowdown, demand for handsets appears to be picking up in the United States and the Asian market “continues to show a strong performance,” Nokia said.