Nokia has announced that India has become the second largest market for Nokia in terms of sales, going past the USA 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. The factory has now 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.
The factory currently employs 4700 people, 70 percent of which are women. The Nokia Telecom Park has received an investment of US$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. Olli-Pekka Kallasvuo, President and CEO of Nokia Corporation.
Nokia Siemens Networks has recently announced its plans to invest US$100 million in India over the next three years as a part of its commitment to develop a strong telecommunications environment in India. 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.
Posted to the site on 23rd August 2007
Posted to: www.cellular-news.com/story/25601.php