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Nokia consolidates business ventures in China

Posted: 03 Apr 2003 ?? ?Print Version ?Bookmark and Share

Keywords:nokia? cdma handsets? telephone?

Nokia Corp. has decided to merge four of its existing joint ventures in China into a single joint venture. This move is aimed at strengthening the company's operational efficiency and competitiveness in the region.

The new company will be headquartered in Beijing with branch offices in Dongguan and Suzhou. Operations will continue in each of the previous joint venture locations. In addition, the new company has received approval to begin production of CDMA handsets using Nokia chipsets.

The merged joint venture will be converted into a foreign-invested company limited by shares subject to approval from relevant government authorities. The shareholders of the CLS will be Nokia, Beijing Capitel Co. Ltd, Dongguan Nan Xin Ind. Development Co. Ltd, Shanghai Alliance Investment Ltd, and Beijing Hangxing Machinery Mfg Corp.





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