Do Elcoteq warnings<br>signal weakness at Nokia?

Richard Windsor, who heads global communications equipment research at Nomura Securities, said: "We believe that this has negative implications for Nokia". He suggested that if Nokia is trimming orders it could mean that demand has been weaker than expected and it is pulling back on outsourcing to keep its own factories full, or that demand for models outsourced have been weaker than expected resulting in smaller production runs at Elcoteq.