Nokia to build handset factory in India

2 Dec 2004

Finnish handset maker Nokia is to invest between USD100 million and USD150 million over the next four years in building a new manufacturing plant in India to meet local demand for wireless handsets. Although only four in every 100 Indians currently owns a mobile phone, the company predicts that 37 million units will be sold in the country next year, rising to 50 million in 2008.