Nokia Signed a 2.5 Billion Dollars Deal

Following a partnership started back in 1998, Nokia and China Postel signed on Friday, 11th May, an advantageous contract for both sides which strenghtens their business relations. The Chinese mobile distributor will buy this year from Nokia mobile devices with a value of about 2.5 billion dollars. This comes after another contract, signed in 2006, that is worth aproximately 1.9 billion dollars. Both companies have also agreed to broaden strategic relations, including the ones that involve network channel development.

"I believe that our partnership will continue to bring new energy to the Chinese mobile phone market", said David Tang, the Vice President of Nokia, manifesting his optimism regarding the agreement.

Another confident declaration comes form Tan Xinhui, President of China Postel, who 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."

China Postel Mobile Communication Equipment Co. is a subsidiary company of China P&T Appliances and has been for many years the leading mobile phone distributor in China, reaching in 2006 a market share of 30%. Since the beginning of the collaboration with Nokia, China Postel has distributed in their country more than 37 million Nokia devices.

Nokia, with its headquarter in Espoo, Finland, is the world's biggest mobile phone manufacturer, employing at the moment 68,000 people and operating in 130 countries. Since the beginning of 2007, over 16 million Nokia mobile phones have been sold in China, this being an increase of 34% compared to the same period of last year.