Nokia Drops 8.1% on First-Quarter Outlook

Tech Movers

TSC Staff

01/30/01 - 08:37 AM EST

Finland's Nokia(NOK Quote) was down 8.1% in preopen Instinet trading after it posted fourth-quarter earnings in line with analysts' expectations but predicted a slowdown in the first quarter. The world's largest mobile-phone maker said first-quarter sales would grow only 25% to 30% because of a slower market. It also warned that earnings per share for the period would be the same as a year earlier due in part to aggressive efforts to build market share.

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