Nokia ( NOK) boosted its industrywide sales target for 2006 to 15% from an earlier 10%, citing strong subscriber growth. "I believe that Nokia is well placed for some new innovative leaps," CEO Jorma Ollila said at the Finnish wireless giant's annual meeting. "We have seen the first era of an industry that I have no doubt will continue to transform for many years to come." Citing the rise of camera phones and the promise of music phones, Ollila said that "other industries like music and digital imaging are quickly becoming more integral to mobility." Nokia also emphasized its strength in the so-called developing markets of the world, such as China and India. Nokia has racked up big sales gains there lately to maintain its industry-leading market share, but Wall Street has grown concerned about the company's reliance on selling cheaper handsets while Motorola ( MOT) has emerged as the fashion leader and seller of more lucrative models. Nokia said it estimates the number of mobile subscribers to grow to 3 billion in 2008, with 80% coming from new growth markets and Asia-Pacific and China accounting for half of the next billion subscribers.