Nokia defies downturn to extend mobile lead

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The Finnish cellphone pioneer Nokia has kept its sales and margins growing, despite new 'smartphone' challenges, and its 40% world market share is as big as its next three rivals' combined. A strategy of producing for faster-growing emerging markets, switching production and sourcing to them, has ensured that its share price holds up against the general slide in technology stocks. Alan Shipman reports.

Amid generally sliding US and European share prices, Nokia made double-digit gains last week for reasons other than being seen as a likely takeover target. Nokia's global market share reached 40% in Q4 2007, despite the arrival of new challenger Apple in the smartphone market. With global handset sales rising over 15% year-on-year despite a rise in prices to cover new features, Nokia...

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