By Graham Hayday, 10 June 2002 08:35
NEWS Nokia will announce its latest financial results tomorrow - and the markets are bracing themselves for more bad news. The gloom surrounding the Finnish company's second quarter performance has been triggered by a profit warning from RF Micro Devices, a handset chip-maker which counts Nokia as its biggest customer. It said on Friday that it had suffered a serious fall in orders. It did not explicitly name Nokia, but given the mobile phone giant accounts for half of the US company's sales, it doesn't take a genius to come to the conclusion that Nokia is about to post bad figures. It is expected to hit its profit targets, but miss its sales forecasts.
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