Nokia Oyj Chief Executive Jorma Ollila said he expects mobile phones to be high margin products at least until 2006 as new technologies will boost sales next year.
A mobile phone "is not a commodity and it won't be in the next three to five years," said Ollila at an investor meeting in Frankfurt. "Market growth will reaccelerate in 2002" on new technologies.
Nokia shares have fallen 36 percent since mid-December on fears mobile phone sales will be throttled by slower global economic growth and as clients refuse to buy new phones before the introduction of new technology that allows easier Internet access.
Nokia sees sales growth of as much as 35 percent next year after 20 percent growth this year.
Ollila expects the company's experience in making phones in volumes, and its role in creating the mobile Internet, to help it fight of competition when faster services become available this year and in 2002.
"We have a clear advantage in tackling that challenge," said Ollila, adding that faster phones based on wideband code-division multiple access will start reaching stores in the second half of next year.
New services, such as Nokia's customer Web site Club Nokia, will fuel Nokia's sales in the future, Ollila said.
Clients can download games, pictures and ringing tones from the Club Nokia Web site.
Phone companies are also expected to participate in building Club Nokia as it brings airtime to them, he said. More than 50 operators are seen joining Club Nokia before year-end.
Nokia will focus on four different categories when it comes to faster mobile phones.
Three categories, based on size and function, will be aimed at recreational users while one category will cater to businesses.
Ollila expects half of its phones in 2004 will be based on the so-called Epoc operating system, a system designed for more advanced mobile Internet functions, a feature that is expected to attract a large number of new customers.
Nokia shares closed up 0.45 euro, or 1.2 percent, at 36.85 euros.
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