* To cut 1,800 jobs, 3 percent of staff
* Delays first MeeGo products into 2011 from 2010
* Q3 underlying EPS 0.14 euro vs 0.10 euro poll average
* Phone sales price up yr/yr first time in years
* Says low-end component shortages boosted average price
* Cellphone market share drops to 30 percent
* Shares up as much as 9.1 percent
(Adds company quotes, updates shares)
By Tarmo Virki, European Technology Correspondent
HELSINKI, Oct 21 (Reuters) - New Chief Executive Stephen Elop put his mark on Nokia (NOK1V.HE), cutting 1,800 jobs and delaying a key product after parts shortages helped the world's largest handset maker post stronger-than-expected profits.
Third-quarter underlying earnings per share dropped to 0.14 euros from 0.17 euros a year ago, but solid demand for its cheap smartphones helped it beat all forecasts -- which ranged from 0.08 to 0.12 euro -- in a Reuters poll of 36 analysts.
Canadian Elop, a former Microsoft executive, took the helm on Sept. 21 from Olli-Pekka Kallasvuo, who presided over a halving in Nokia's market value during his four years in charge when smartphone rivals Apple (AAPL.O) and Google (GOOG.O) surged ahead. [ID:nLDE68903W]
The strong numbers on Thursday sent Nokia shares more than 9 percent higher. They were up 6.5 percent by 1400 GMT.
"I think it's an excellent report given that the company's portfolio of products was very weak in the quarter," said Morgan Stanley analyst James Dawson.
"The handset profits are 30 percent ahead of expectations, so it's clearly a very big beat versus what the market was looking for," Dawson said.
Nokia stopped the profit slide this year through vigorous cost cuts. Now it plans to cut close to 3 percent of staff at its main business in a move that would hit most product creation at Symbian Smartphones and its Services organisation.
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