Wednesday, May 16, 2007
Nokia scores $2.5B order from China Postel
Nokia Corp. announced that it has signed a partnership with China Postel Mobile Communication Equipment Co. Ltd, where the China company will purchase mobile devices from Nokia valued at approximately $2.5 billion. The two companies have also agreed to deepen strategic ties, particularly on network channel development, as they both make bilateral resource investments.
"I believe that our partnership will continue to bring new energy to the Chinese mobile phone market," commented David Tang, VP of Nokia.
Tan Xinhui, president of China Postel, said, "Over the past few years, we have been pursuing new ways of working with operators, mobile phone manufacturers, and consumers in order to enhance our competitiveness. We hope to have a fundamental role in the development of the Chinese mobile phone market."
As a subsidiary company of China P&T Appliances, China Postel has become a provider of mobile phones and is actively involved in China's telecom service industry. With a comprehensive distribution network for both products and services, China Postel has a market share of over 30 percent in 2006. Since the collaboration between Nokia and China Postel began in 1998, China Postel has distributed over 37 million Nokia mobile phones across China.