India emerges as the second largest market for Nokia

RELATED NEWS Nokia aspires to be a major internet service co Nokia Global Head visits Sriperumbudur India is Nokia’s 2nd largest sales market Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty?

Nokia , the world leader in mobile communications, today announced that India has become the second largest market for Nokia in terms of sales, going past the United States in the quarter ended June 2007. Over the last three years, India has been gaining significant ground Year on Year moving from No 4 position in 2005 to No 3 position in 2006 and is today poised right behind China.

 

In another milestone, the company also announced that it has started exporting to 58 countries from its Sriperumbudur, Chennai manufacturing plant. This is a remarkable feat for Nokia's manufacturing plant in India and demonstrates the operational efficiencies of the factory and conducive business environment provided by the state and central government. Today, the factory has reached production volumes of 60 million handsets (August 2007) and is exporting half of its production to 58 countries across Middle East, Africa, Asia, Australia and New Zealand.

 

"India is playing an increasingly important role in the global economy buoyed by impressive economic growth, skilled manpower and tremendous business opportunity. As the market leader in devices and infrastructure, Nokia is committed to build the telecom ecosystem in the country and foster the creation of a favorable environment for collaboration and economic development," said Mr. Olli-Pekka Kallasvuo, President and CEO of Nokia Corporation.

 

The factory currently employs 4700 people, 70 percent of which are women. The Nokia Telecom Park has received an investment of USD 500 million with seven global component manufacturers likely to generate in excess of 30,000 jobs when fully functional.

 

"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," said Mr. Kallasvuo. 

 

Nokia Siemens Networks has recently announced its plans to invest USD 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. This 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 centre, and expanding the Global Networks Solution Centre .

 

Nokia Corporation has recently introduced a new organizational structure under which Nokia's current business group and horizontal group structure in the device business will be replaced by three main units. The new organizational structure will be effective from January 1, 2008. Devices, responsible for creating the best device portfolio for the marketplace; Services & Software, reflecting Nokia's strategic emphasis on growing its offering of consumer internet services and enterprise solutions and software; and Markets, responsible for management of Nokia's supply chains, sales channels and marketing activities. The move is driven by Nokia's strategy to create an organization that would allow it leverage opportunities that convergence and the internet industries present in the future.

 

Sourced From: Text 100 Public Relations Consultancy