Nokia sees China as key target

23 Jan 2003

Jorma Ollila, chief executive officer of Finnish handset giant Nokia, has set his sights firmly on China in 2003, believing that demand for mobile phones in the world’s largest market will be the key driver for growth. Mr Ollila sees China as his company’s primary battleground: less than one in six Chinese own a phone compared with seven out of ten Europeans and half the US population. Sales from China accounted for 11% of Nokia’s turnover in 2001, but Ollila says that ‘Nokia needs to keep up with the pace of growth in China as that’s the market that’s expanding’. Motorola usurped Nokia’s position as leading supplier in China in 2001 and other local companies, such as TCL Mobile Communications, are also closing the gap.