There is no sign that the booming mobile phone industry is hitting any major sales barriers anytime soon. Shipments increased by 22 percent to 205.4 million units in the third quarter year-over-year, according to a report released by market research firm Gartner. The result prompted the company in raise its sales forecast for the year to 810 million phones.

"Year on year sales grew in all regions as replacement sales in mature markets such as Western Europe and North America continued to drive growth while users in emerging markets joined mobile networks and acquired their first mobile device," said Carolina Milanesi, principal analyst with Gartner in the UK.

Nokia delivered another solid performance that increased its global market share from 31.0 to 32.6 percent. According to Gartner, the company sold 67 million phones during the quarter, up from 52 million one year ago. The Razr phone helped Motorola to post largest market share increase among the top five vendors, with sales jumping from 22.6 million to 38.5 million phones and a market share that climbed from 13.5 to 18.7 percent. According to Gartner, Motorola had sold 12 million Razr phones by the end of September.

Samsung remained in the third position, with 25.7 million of phones sold, and a market share that dropped from 13.7 to 12.5 percent year-over-year. Sony Ericsson was able to surpass shipments of LG and is now listed in fourth position with 6.7 percent market share. Gartner estimates LG’s market share at 6.5 percent.