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India is Nokia's second largest market in Q2

Posted: 28 Aug 2007 ?? ?Print Version ?Bookmark and Share

Keywords:India market? Nokia cellphone? largest Q2 market?

Finnish handset maker Nokia disclosed that India has become its second largest market in terms of sales, going past the United States in the quarter ended June 2007.

India has been gaining ground y-on-y over the last three years from the fourth port in 2005 to the third position in 2006 and is now poised right behind China.

Nokia also announced that it has started exporting to 58 countries from its Sriperumbudur, Chennai manufacturing plant. The facility has reached production volumes of 60 million handsets and is exporting half of its production to 58 countries across Middle East, Africa, Asia, Australia and New Zealand.

The factory currently employs 4,700 people, 70 percent of which are women. The Nokia Telecom Park has received an investment of $500 million with seven global component manufacturers likely to generate in excess of 30,000 jobs when fully functional.

"India is playing an increasingly important role in the global economy buoyed by impressive economic growth, skilled manpower and tremendous business opportunity," said Olli-Pekka Kallasvuo, president and CEO of Nokia. "Today, India hosts a comprehensive Nokia R&D, manufacturing and design presence. Moreover, we are also the country's leading provider of wireless infrastructure through Nokia Siemens Network, the newly merged entity. This not only reiterates our commitment and belief in the market but also underscores India's emergence as a strategic resource hub for Nokia globally."

Nokia Siemens Networks has recently announced its plans to invest $100 million in India over the next three years as a part of its commitment to develop a strong telecommunications environment in India. This is to better address and drive the growth of Indian mobile industry and to better serve its customers. The investment will include setting up a proposed telecommunication equipment manufacturing facility in Tamil Nadu for wireless network equipment, new offices across various cities, additional development of an existing R&D center, and expanding the Global Networks Solution Center.

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