Nokia sets sights on untapped markets

28 Aug 2003

According to Nokia CEO Jorma Ollila, new growth markets will be the key driver of the mobile industry over coming years. According to Ollila only 20% of the world’s population are covered by a mobile network and some four billion people are without a phone service of any kind. He went on to say that large regions of Russia, India and Latin America were prime examples of markets where pent-up demand for wireless communications is only now being addressed. In Russia in particular, Nokia envisages that the number of mobile users will exceed 60 million by 2008, a 200% increase over the current subscriber base. On a global basis the equipment vendor expects the mobile market to expand to two billion users by 2008, up from the 1.2 billion at present; some 400 million of the total use Nokia handsets.