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| Business Words in the News
Friday 19 July 2002
Vocabulary from the business news. Listen to and read the report then find explanations of difficult words below.
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Nokia Profits Rise
Summary: The Finnish mobile phone company, Nokia, has reported a big jump in profits, compared to last year. But the company is predicting more difficult times ahead in what is a highly competitive sector. This report from Rachel Harvey.
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| | The News | |
| | | Nokia is the world's biggest manufacturer of mobile phone handsets, so its financial state of health is something of a barometer for the wider industry. The company has reported a forty-six percent increase in profits for the second quarter of this year; largely the result of selling thirty-six million mobile telephones worldwide. Nokia says part of its success has been in stealing market share from other mobile phone companies such as Motorola and Ericsson. Ericsson is due to publish its own results on Friday, which may give a clearer indication of how much overall growth there's been in the sector.
Even Nokia is cautious about the future, warning that it expects a decline in sales in the latter part of the year. Part of the problem is the delay in launching the new third generation mobile phones. New technology, which will enable people to use their mobile phones to send and receive pictures, emails and even music, is seen as crucial to the future of the industry. Nokia has already launched a telephone with an inbuilt camera and it's promising to produce thirty new handsets by the end of the year. The test will be whether anyone wants to buy them.
Rachel Harvey, BBC
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| | The Words
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| | | manufacturer
a company that makes or produces a product is the manufacturer of that product
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| | | financial state of health
whether the company is being successful or not
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| | | a barometer
a device used to help predict the weather – here it is used metaphorically referring to the health of one company as a guide to predicting the state of the industry as a whole
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| | | largely the result of
mostly because of
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| | | stealing market share
taking customers away from one company to another
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| | | a clearer indication
a better understanding
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| | | cautious about the future
careful about what might happen in the future
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| | | a decline in sales
sales are getting lower
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| | | crucial
very important, vital
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