Monday, March 10, 2008

Nokia signs US$2 bln deal in China

Nokia has inked a strategic partnership agreement worth US$2 billion to provide mobile devices to China Postel Mobile Communication Equipment Co. (China Postel), the country's largest wholesaler, announced the Finnish mobile phone manufacturer.

Under the agreement, the two partners will strengthen the cooperation in channel development, resource investment and marketing management.

China Postel, a unit under China P&T Appliance, currently holds nearly 30% of the market share on the Chinese mainland. It has been tied up with Nokia since 1998. In 2007, it has signed US$2.5 billion deal with Nokia for purchasing more than 20 million cell phones.

According to earlier report, China is Nokia's largest single market globally. In 2007, it has exported US$9.18 billion worth of phones and equipment from the greater China region, up 30% year-on-year, while its total sales in China rose 20.8% year-on-year to nearly US$9 billion.

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