ABG Sundal Collier: Nokia Sector Opens up to New Markets

According to a research report this morning, ABG Sundal Collier predicts a decline in selling prices; the research firm sees a volume boost for the Nokia

sector, Lumia, as it opens up in Brazil, China and the USA market. ABG Sundal Collier stated, “We anticipate a tripling of shipments into the channel in the second quarter to around 6 million units with revenues climbing slightly more modestly to EUR 1.2bn as the unit revenue collection slips to EUR 207 from EUR 220 in the preceding period. Thereafter, in the third and the fourth quarter deliveries are projected (by us) to reach 10m and 16m respectively – largely thanks to a drastic reduction in the average selling price to EUR 170-175m and EUR 160-170 respectively.” Nokia closed yesterday at $2.61 as ABG Sundal Collier maintains its Hold rating and a PT of $3.11.