Nokia Increases Guidance, Citing Strong Device Sales

Although it has been losing mobile phone market share, Nokia Thursday increased its quarterly guidance based on strong growth of mobile devices.

Specifically, the company said it now expects net sales for the third quarter to be between 6.8 million to 6.9 million euros. It previously had provided sales guidance of between 6.6 million and 6.8 million euros.

In a statement, the company said that the increased guidance is due to strong worldwide growth of mobile devices. The company said it will report full quarterly results on October 14.

Although several market studies have show Nokia's unit sales increasing, it's overall share of the mobile device market has been shrinking due to strong sales worldwide and competition from vendors such as Motorola and Samsung.