November 25, 2003, 9:25 AM — Finland's Nokia Corp. has provided more details on its plan to divide the company into four business groups in 2004, compared to three, and reiterated its earlier fourth-quarter guidance.
The mobile phone maker has split itself into four divisions that will break out profits and losses separately, Nokia said Monday. The company expects its mobile phones division to account for 65 percent of Nokia's sales in its fourth quarter, with multimedia hitting just above 10 percent, networks slightly below 20 percent and enterprise systems reaching about 5 percent. The company will report quarterly numbers for the divisions beginning Jan. 1, 2004, it said.
For the fourth quarter as a whole, Nokia "believes it will achieve its previous guidance," based on sales so far in the period, according to Jorma Ollila, Nokia's chairman and chief executive officer who was speaking at a webcast news conference held before the start of the company's two-day meeting with industry analysts in Irving, Texas.
In October, Nokia said it expected fourth quarter earnings of between