Apple's mobile phone business is growing at a pace that even exceeds that of the overall smartphone market. Recent IDC estimates suggest the global smartphone market grew 70% in December, while Apple boasts of a 86% year-over-year increase. While its popularity among consumers remains strong, the iPhone' s influence in the corporate world is also growing. Apple chief financial officer Peter Oppenheimer confirmed that "88 of the Fortune 100 companies and almost 60% of the Financial Times Europe 100 companies [are] now testing or deploying iPhones." This expansion in Europe is most damaging to Nokia, which has dominated the European market for the past several years running. Apple's growth is unprecedented already, and it shows no signs of slowing down any time soon.