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Nokia stocks rise fast

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Nokia stocks rise fast

Nokia announced that it had exceeded projections for sales and profits in the fourth quarter of 2009 and the result was a 10.5 per cent increase in the price of its shares, which has allowed it to recover from losses experienced in recent months.

Stockbroker Michael Schroder said that Nokia looked set to continue its improved performance across the board for the next few months, indicating that better times are coming to the world's largest mobile phone manufacturer.

Mr Schroder said that many were surprised to see Nokia claw back its market share in the smartphone sector, retaking a 40 per cent stake after some had expected its dominance to slip further than the 35 per cent it had managed earlier in 2009.

Although Nokia surpassed expectations in the fourth quarter of 2009, it was still not able to make the same level of profit per share as in the same period in 2008, although the upturn is clearly having a positive impact.

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