Nokia Expects To Exceed its Previous Third-Quarter 2004 Guidance

Helsinki, Finland - Nokia today raised its guidance for the third quarter 2004.

Based on the developments in the first two months of the third quarter 2004, EPS (diluted) for Nokia is expected to be EUR 0.11 - EUR 0.13 compared to the previous guidance range of EUR 0.08 to EUR 0.10, as given on July 15, 2004. Net sales for the company are expected to reach EUR 6.8 billion - EUR 6.9 billion (previous guidance EUR 6.6 billion - EUR 6.8 billion).

The global mobile device market has continued its strong volume growth in the third quarter 2004, and Nokia expects healthy sequential volume growth in its mobile device sales. The company has been able to deliver mobile devices in higher volumes than previously estimated despite industry-wide tightness in some components.

Higher than expected volumes and cost control are anticipated to result in higher than expected net sales and EPS (diluted).

Nokia will report full third quarter 2004 results on October 14, 2004.