Nokia raises handset growth f'cast

The world's largest handset maker Nokia raised on Thursday its forecast for global handset market growth, citing strong subscriber growth.

"Nokia estimates that in the year 2006, the mobile device market volume will increase globally 15 per cent or more from our estimate of 795 million units in 2005," Chief Executive Jorma Ollila said at a shareholders' annual meeting.

Nokia had previously forecast 10 per cent or faster year-on-year growth for the market.

Shares in Nokia had jumped 4.3 per cent on the news to 17.40 euros by 1222 GMT.

Earlier, Nokia launched three new phone models, unveiling the handsets in China as it targets new clients in fast-growing emerging markets.

Nokia expects the world to have 3 billion mobile subscribers in 2008, compared with just over 2 billion now.