India is the Second Largest Market for Nokia
Nokia has declared that India has emerged as the second largest market for Nokia in terms of sales, beating US.
According to the company, India has remarkably gained a significant place within few years from being in the fourth position in 2005 to third in 2006 and now steps second behind China of course.
Nokia has announced that its manufacturing plant in Sriperumbudur, Chennai has reached a production volume of 60 million handsets. The company has also started 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 Olli-Pekka Kallasvuo, President and CEO of Nokia Corporation.
There has been a tremendous progress in the Indian market experiencing an addition of 7.3 million cell-phone subscribers in June, the data released by Telecom Regulatory Authority of India.
“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,” adds Kallasvuo.
More to add to the good news, Nokia Siemens Networks has also announced its plans to invest USD 100 million over the next three years to develop a strong telecommunications environment in Tamil Nadu, India. With this investment, it will provide wireless network equipment, new offices across various cities, additional development of an existing R&D centre and expand the Global Networks Solution Centre.
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