Nokia, the world's leading mobile phone provider, has predicted that the mobile phone market would grow by 10% next year as it raised its 2008 and 2009 operating targets.
Nokia said it was now targeting a one to two-year group operating margin of 16-17%, up from its previous target of 15%. The operating margin measures net income as a percentage of sales minus general costs and expenses.
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% in 2008 from the anticipated 1.1 billion shipments this year.
Overall sales next year are expected to increase more than 15% in the Asia-Pacific region, China, the Middle East and Africa and less than 10% in North America and Europe, Nokia said.
The market should also expand in value in 2008 despite a continued decline in mobile phone sales prices.
