The world’s largest cellphone maker, Nokia, has reported a smaller-than -expected fall in third-quarter profits.
Price cuts and new models lifted sales of its basic cellphones in key markets like India.
Protecting its position in these types of markets is crucial, as rivals like Apple push in with cheaper smartphones.
Shares in Nokia jumped on the surprise profit – up 9.3% to 4.9 euros – their highest levels since May.
Nokia’s preparing to fight its way back into the smartphone race with the launch of its first Windows phones next week.
Left behind by the likes of Apple and Google in the booming smartphone market, the company hopes the introduction of new models using Microsoft Windows software will help revive its fortunes.
Bottom line: Higher-than-expected sales have sparked a share rally for Nokia as it prepares to launch new Windows-based smartphone.