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Nokia Corp., the world's top cell phone maker, reported better-than expected results for the second quarter Thursday and upgraded its forecast for the global handset market. Its shares jumped 8 percent.

"With half a year visibility, we're able to say growth will be 10 percent or more," Nokia's Chief Financial Officer Rick Simonson said in an interview, higher than the Espoo, Finland-based company's previous forecast of 10 percent.

Simonson said Nokia expects the mobile phone industry to weather any global economic slowdown because the devices have become such a part of people's lives.

Nokia's share price had plunged about 40 percent this year amid concerns the mobile phone industry would suffer as the credit crunch and inflation take their toll on economic growth and consumers' spending power. However, Simonson said demand for cell phones will remain high even as consumers face tough choices on how to spend their income.

http://biz.yahoo.com/ap/080717/earns_nokia.html

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