Shares in mobile phone firm Nokia leapt 10 per cent on Monday on hopes it can benefit from a setback to rival Samsung, which has lost a high-profile court case to Apple that could lead to an injunction against some of its products.
A US jury found South Korea’s Samsung Electronics copied critical features of Apple’s hugely popular iPhone and iPad and awarded the US company US$1.05 billion in damages.
“In addition to Apple, we name Microsoft and Nokia as the main beneficiaries from this outcome,” said Nordea analyst Sami Sarkamies.
Shares in Nokia were 10.2 per cent higher at 2.746 euros by 0835 GMT. Microsoft’s European-listed shares were 1.6 per cent higher.
Nokia and its software partner Microsoft have been struggling to win ground from Samsung’s Android-powered smartphones which lead the market.
Google’s Android is used in around 65 per cent of smartphones sold globally, with Samsung the biggest maker of Android phones.