India emerges as the second largest market for Nokia

India emerges as the second largest market for Nokia

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.

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