Handset manufacturing giant Nokia is doing what other leading mobile companies simply can't do - make money from low-end mobile phones. According to BusinessWeek, Nokia's third-quarter profit soared 85%, to $2.2 billion, handily beating analysts' estimates and sending its stock surging.



Despite grabbing a 39% global market share and controlling 50% of the global smartphone market, Nokia remains a distant player in the U.S. market.

This situation might change in the coming years with the recent acquisition of NAVTEQ and social networking site Twango. Then again, the entry of iPhone and other iPhone-wannabes signals a more competitive playing field.