Nokia announces cuts in their operating margin targets

World’s largest mobile phone maker Nokia has said that they are now cutting their operating margin targets as they are increasing their presence in the network infrastructure market.

The company added that they are looking at growth of mobile phone sales to hover around 10% next year.

Nokia is also due to start their Nokia Siemens Networks operations in partnership with German based telecom giant Siemens. They have now lowered its target margin to 15 percent for the next one to two years.

Nokia added that they are aiming for a 17 percent operating margin over the next two years.

Nokia Chief Executive Olli-Pekka Kallasvuo said in a statement on their future goals: “To enjoy the full benefits of the continuing growth of the global device market that Nokia expects, we’ve made a number of important strategic moves and organizational changes, and have put our marketing and design efforts into a sharper focus.”

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