[Nokia announced today a partnership with Korean company, Telson, targeted at advanced CDMA products for the Korean market.]

Nokia and Telson Electronics (Telson) today signed an agreement for the joint development, manufacture and supply of CDMA products for Korea and other markets, an initiative signaling the strengthening of Nokia's focus on the Korean market and its portfolio of CDMA products. For Telson, the agreement will bring access to new market segments with the leading brand of the industry.

Under the partnership, Nokia will leverage its CDMA competency to provide the design and user interface for the products and provide specifications and product requirements. Telson will deliver its specifications and undertake the development and production of the mobile phones according to Nokia's requirements. Nokia and Telson are committed to a long-term partnership and will review it with the intention to extend it to other markets for mutual benefits and synergies.

Commenting on the partnership, Nokia Mobile Phones Asia-Pacific's Senior Vice-President, Nigel Litchfield said, "Our partnership with Telson will give us the impetus to provide the Korean market with the most competitive and localized CDMA products in the fastest and most effective way. Additionally, the partnership will allow us to supplement Nokia's own portfolio of advanced CDMA products."

"We will continue to leverage our global expertise on CDMA technology and product development to ensure innovative products for global CDMA markets," Mr. Litchfield added.

"Through this partnership with Nokia for the long-term, Telson intends to grow to one of the top three CDMA terminal suppliers worldwide by the year 2003. To achieve this goal, we are planning to strengthen our R&D facilities by investing a substantial portion of our profit," said Dong-Yun Kim, President & Chief Executive Officer, Telson Electronics.

Nokia's presence in Korea dates from 1984 when it established Nokia TMC Company to manufacture mobile phones in Masan, South Korea. Today, Nokia TMC is the largest mobile phone manufacturing facility in South Korea supplying markets globally. Nokia has CDMA R&D facilities in Korea, which it will continue to build and expand. This is in addition to Nokia's CDMA R&D center in San Diego, which was established in 1991.

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