Nokia predicts 10% growth in mobile phone market

Nokia, the world's largest mobile phone producer, predicted that the mobile phone market would grow by 10 percent next year to more than 1.2 billion units.

Nokia said Tuesday that it was now targeting a one to two-year group operating margin (the proportion of revenue after production costs are subtracted) of 16-17 percent, up from its previous target of 15 percent.

It also predicted that the worldwide market for internet services would reach 100 billion euros (145 billion U.S. dollars) by 2010, and announced the acquisition of Avvenu, a U.S.-based company that specializes in online services and access to PCs and handsets.

In a note timed to coincide with an investors' meeting in Amsterdam, Nokia said it expected industry handset unit sales to grow by around 10 percent in 2008 from the anticipated 1.1 billion units this year.

Overall sales next year are expected to increase more than 15 percent in the Asia-Pacific region, China, the Middle East and Africa and less than 10 percent in North America and Europe, Nokia said.

Source:http://news.xinhuanet.com