Nokia now has a 40 percent market share in mobile phone segment

Mobile phone maker Nokia has come out with their latest quarterly report and the company has posted a 44 percent rise in net profit for the fourth quarter.

The sales were up by around 34 percent. Nokia added in a statement that as per their estimates, market saw sales of 1.14 billion phones last year.

And Nokia claims that they now have a market share of around 40%.

The company is now hoping that their recent acquisition of digital mapping data provider Navteq would help them boost revenues from mobile services which is increasingly becoming a popular segment to be in.

Nokia CEO Olli-Pekka Kallasvuo added in a statement: “Much work remains in order to realize our ambitions. We will not underestimate the competition.”

Samsung and Motorola are their biggest rival in the mobile phone market. Though, Apple is also becoming a problem for them in the US market.

Popularity: 9%