Just where did the market share go in the first quarter? Nokia CFO Rick Simonson attempts to solve the mystery during the New York-leg of Reuters Global Technology, Media and Telecoms Summit in New York on Monday.

His theory? Just wait a quarter.

People had a mistaken notion that when Motorola announced a large decrease in market share, why wasnt market share taken by Nokia, Samsung, Sony Ericsson. The problem was it went into the channel and it takes time to work its way through. Those players with a superior product portfolio should take a lot of market share. Were pretty confident in saying that we will have (increased) market share in q2 versus q1.

Theres no reason why we cant have 36 (percent) or more market share and not achieve higher profitability.

On Apples upcoming iPhone:
The iPhone is interesting Its very much a validation of what were doing, a multimedia device that people will pay for N73 is a great example of that. The N95 is already out there doing many of the things people are talking about.
U.S. consumers have not had a lot of choice to pick up higher-end feature-rich devices.
Theyll bring some things to the table that people are responsive to.
Theyre excellent in design. We cant trivialize that.