Nokia expects the mobile phone industry to weather any global economic slowdown considering the devices have become such a part of people’s lives, the company’s finance chief said Thursday.

Nokia, the world’s top cell phone maker, saw its shares rise 8 percent Thursday after posting better-than expected results for the second quarter and upgrading its forecast for the global handset market.

“With half a year visibility, we’re able to say growth will be 10 percent or more,” Nokia’s Chief Financial

Officer Rick Simonson told The Associated Press.

The Espoo, Finland-based company had previously forecast volume growth of 10 percent for the mobile phone market.

Nokia’s share price had plunged about 40 percent that year amid concerns the mobile industry would suffer as the credit crunch and inflation take their toll on economic growth and consumers’ spending potential. However, Simonson said demand for cell phones will remain high even as consumers face unbreakable […]

Orginal post by Top Tech News