Nokia back on top

Mobile phone giant Nokia http://www.nokia.com has reported a smaller-than-expected fall in profits and has said it is winning back market share. As the Financial Times (FT) http://www.ft.com reports, the Finnish group, which struggled early last year with gaps in its product range, has announced that it took a 34 per cent share of the global handset market in the fourth quarter double that of its nearest rival, Motorola of the US. The company has also surprised investors with the strength of its profits and its forecast for first-quarter sales. The shares rose six per cent to 11.65 euros. According to Jorma Ollila, Nokia's chief executive, the company had "accomplished a major recovery" during the second part of last year and there was a "good opportunity to strengthen our business and grow our market share in 2005".