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Siemens Guides Handset Volume Up

The company expects to sell as many as 39 million units this year.
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Siemens

(SI) - Get Report

raised its forecast for cell-phone handset sales in 2003, sparking buying in a handful of technology shares in Friday's premarket session.

The German electronics giant expects its own cell-phone sales to rise by as much as 18% this year, various news reports quoted a spokesman saying. The rate of increase is well above the 10% the company sees for the industry as a whole and would bring its total unit volume to 38 million to 39 million.

Siemens said it's already sold 33 million handsets year-to-date, matching the number it sold during all of 2002.

On the news,

Nextel

TheStreet Recommends

(NXTL)

was up 14 cents, or about 1%, to $18.20, while

Nokia

(NOK) - Get Report

rose 6 cents, or about half a percent, to $16.45 and

STMicroelectronics

(STM) - Get Report

rose 41 cents, or 2%, to $24.70.