Nokia's new phones

The mobile giant Nokia recently padded up its portfolio by adding up four new low-end cell phones. The handsets targeted at the developing countries are expected to hit the market in the third quarter of this year. The Finnish company, which makes four out of every 10 phones sold globally, has been fiercely defending its dominant position in the emerging markets. The new phones target cheapest offerings from its main rivals. The company expects replacement sales to consumers who already own a phone to grow to more than 60 per cent of sales volumes in emerging markets this year from around 50 per cent last year.