The pioneer in the Smartphone industry, Nokia Oyj (NOK1V), introduced the world’s first modern smartphone in 1996.

Neil Mawston,, London-based executive director at Strategy Analytics, said that smartphone penetration is still relatively low, because, according to him, most of the world does not yet own a smartphone and there is still a? huge space for future growth. In particular, the future emerging markets such as China, India and Africa would be the target for smartphone makers to reach.

The demand for smartphones has been? fueled by Apple Inc. (AAPL)’s iPhone and currently 1 billion smartphones are in use all over the globe and this figure will double by 2015.

Apple Inc. (NASDAQ:AAPL) and Samsung electronics managed to earn record profits through their smartphone sales by dumping the Finnish hand set maker and other competitors. Last month, the Cupertino, California-based Apple managed to sell more than 5 million iPhone 5 in the first weekend of their debut and surpassed previous sales record of the iPhone 4S.

Finland-based Nokia Corporation (ADR)(NYSE:NOK) is set to release its third quarter earnings today with missed revenue targets led by low sales.

In the last session, stocks of Nokia Corporation (ADR)(NYSE:NOK) ?surged 4.26% to $2.94.

Verizon Communications Inc. (VZ) is scheduled to announce its third quarter earnings today. To remove any risk from its balance sheet, VZ is transferring an amount of $7.5 billion in pension obligations to make its financial profile more improved.

The second-largest U.S. life insurer, Prudential will now? take the ?responsibility for making future pension payments to certain management retirees of Verizon.

Verizon, by this move, follows General Motors Co. (GM) footsteps in paying Prudential to assume the risk if market returns are inadequate and by transferring obligations can make it financially sound as it gets rid of the need to manage large pools of money.

In the last session, stocks of Verizon Communications Inc. (NYSE:VZ) soared1.45% to $44,

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