The Hindu : Business : India second largest market for Nokia

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Friday, Aug 24, 2007
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India second largest market for Nokia

Special Correspondent

$500 m investment in Nokia Telecom Park

NEW DELHI: Nokia on Thursday said India had become the second largest market for the company in terms of sales, surpassing the U.S. market in the quarter ended June 30, 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,” President and CEO of Nokia Corporation Olli-Pekka Kallasvuo said.

Talking to reporters here Mr. Kallasvuo said Nokia had started exporting to 58 countries from its Sriperumbudur manufacturing plant near Chennai.

“Today, the factory has reached production volumes of 60 million handsets and is exporting half of its production to the Middle East, Africa, Asia, Australia and New Zealand.” 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,” he added.

He announced that the Nokia Telecom Park had received an investment of $500 million with seven global component manufacturers likely to generate in excess of 30,000 jobs when fully functional. “At present India hosts a comprehensive Nokia R&D, manufacturing and design presence,” Mr. Kallasvuo said.

Similarly, the network division, which has merged with Siemens, was also ramping up its capacity in Chennai at an investment of over $100 million in the next three years, said Mr. Kallasvuo, who is also the Chairman of Nokia-Siemens Networks.

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