Mobile phone maker grew market share in Q4 on touch screen smart phones. Nokia was able to up the average price of its mobile phone devices while cutting costs, helping it beat Wall Street's fourth-quarter earnings expectations.

The communications equipment maker said Thursday that it earned $1.3 billion, or 36 cents per share, up 60.1% from net profits of $810.5 million in the year-earlier period. The bottom line figure came in well ahead of analysts' consensus call for earnings of $1 billion, or 27 cents per share.

Nokia continues to expect industry mobile device volumes to increase 10% in 2010, and hopes to maintain its market share in the sector.

The market for mobile phones took a worse-than-expected hit from the global economic crisis. As consumers worldwide cut down on discretionary spending, Nokia saw the average selling price of its handsets decline every quarter since 2004. But in the recent period, Nokia saw its first quarterly increase to $88.65, from $87.25 in the previous quarter. Still, it was a year-over-year decline from $99.91.

souce: forbe