In the last quarter, you had impressive results—smartphone shipments were up 50%, revenues up 20%. But your shares have lost a lot of value since then. Why is that analysts and traders are shaky about holding on to Nokia shares? After results, your shares lost all the gains they had made up in the previous months.

Yes, but I am not a very good predictor of the stock market. As such, I think what the market is saying is that the whole handset segment is in state of flux. There is a big ongoing change. If you look at just the original promise of the mobile, that was to make phone calls available, independent of time and place. Then it was enhanced with short messaging.

And then you look at the global population—a majority who wanted these services has been covered. So, the new penetration potential is very small although there are opportunities left India, China, Africa and South America. So, what now needs to happen is a change in the businesses, and we have been actually been saying for more than 10 years about convergence of the internet and mobile—this is precisely what is happening.

This device is moving from being a phone to a being a computer. Look at what has happened in the internet, which has become a social meeting place rather than just information depository. Perhaps the analysts and investors are thinking—can Nokia make this transformation? I think the fact that we have not only kept, but also increased our smartphone market share, and that we have brought new services like navigation are proof that we can. If you then look at overall results, it is okay. The market did not like it, but our results are still better than any of the other traditional players in this business.

When the first MeeGo products roll out, it will redefine the market for computers. So this game is a very dynamic one and you cannot make the judgement based on a quarter or two—it is a much longer one. Our strategy will be a volume-driven game, rather than concentrating on one or two products. We are the only company that plays in the whole cross section