Nokia today reported strong shipments of mobile phones, with sales volumes up more than 10 per cent year-on-year, in its mid-quarter update for Q3. But dollar depreciation means the company will pull in slightly lower revenues from its mobile phones division than the same quarter last year.

As for profits, Nokia says that EPS will be at the “high end or slightly above” previous Q3 guidance of &euro.014 - €016 per share.

Restructuring at Nokia Networks is “going to plan” with the division approaching operating break-even, Nokia says. Q3 sales are expected to fall 15-20 per cent year on year, as previously forecast. ®