China becoming increasingly important to Nokia

23 Feb 2005

The chief executive of Nokia says the company is targeting China as one of its key markets for handset sales. Jorma Ollila, speaking at a press conference to outline Nokia’s plans to expand its presence in the region, said his firm now claims between 19% and 22% of the Chinese mobile handset market, up from between 16% and 17% in 2002. He added: “We expect to strengthen our market share in the years to come.” China now accounts for around 13% of Nokia’s global sales with revenues of USD3.6 billion in 2004, making it the company’s second most important market behind the US. Ollila commented: “I would not be surprised to see China take up the number one position in the next three years.”

China, Nokia