Shares in Nokia (NYSE: NOK) jumped on Monday after the company said its market share of mobile phones would increase for the year.

The Finnish firm raised its market share outlook past 36 percent of the global market by the end of the year.

Previously, the world's largest cell-phone maker had predicted that market share would remain flat for the year, at 36 percent.

American Depositary Shares in the firm rose 84 cents, or 3.47 percent, to $25.94 in mid-day trading on the New York Stock Exchange.

Second quarter shipments will rise, as excess inventory decreases, the company said. Growth had been hampered by excess inventory at the start of the year.

Nokia did not give a specific market share target for mobile devices.

Electronics