China becoming increasingly important to Nokia

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.”