LONDON—Brokerage firm Merrill Lynch has pared down its estimates of Nokia Corp. and Ericsson, citing a slow take-off in infrastructure equipment and next-generation handset sales.
The report comes just ahead of Nokia’s plan to unveil optimistic figures on its handset and network equipment sales.
Merrill expects a 5 percent fall in both 2002 and 2003 equipment sales, compared with its former estimates of a 12 percent rise.
