According to a number of overseas reports, Nokia has seen its market share slip during the first three months of 2008, but it still managed to outdo its three closest rivals combined.

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The world’s biggest mobile phone maker posted its first quarter results yesterday which revealed it had sold 115.5 million phones in the quarter, more than Samsung, Motorola and Sony Ericsson put together.

Nokia says it now has a strong lead in emerging markets including China and India, where it has been fiercely fending off its rivals.

But times were much tougher for the company in the US market and Nokia is now predicting an economic slowdown in Europe in the next three months of this year.