Windows Phone and BlackBerry 10 are currently battling for the No.3 spot in the smartphone arena, but Nokia (NOK) CEO Steven Elop believes Windows Phone will some day amount to much more. “We selected Windows Phone as our platform so that it would be a key point of differentiation,” Elop told Bloomberg during a recent interview. And while Windows Phone has a minute share of the global market right now, the executive sees that changing dramatically in the coming years.

“It can be the biggest operating system in the world,” Elop said, noting that Nokia has a lot of work to do with software partner Microsoft (MSFT) in order to make that happen.

Elop also reaffirmed the success of the Lumia 920, noting that demand has exceeded supply in a number of markets and Nokia is working to address the issue by increasing production now that the Lunar New Year has passed.