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Nokia in China: growing sales and investment
Posted: 05-Feb-2002 [Source: Nokia press release]

[China accounted for more than 10% of Nokia's total revenues last year. ]

Company's exports from China rose by 50% to a record level in 2001

At a press conference in Beijing Nokia today reaffirmed its strong commitment to China, announcing growth in its China sales and exports to new record levels during 2001. As the company's second largest market in net sales terms since 1999, China in 2001 accounted for more than 10% of Nokia's total revenues.

The company took major steps during 2001 to increase its presence in China through investments, which boosted exports from China by around 50% to a record level of EUR 2.5 billion. Contributing to this strong development was the inauguration in December of a newly-established manufacturing facility at the Xingwang Industrial Park in Beijing. Nokia also established a major research and development center in Hangzhou in November, focusing on technologies for 3G solutions.

The Xingwang Park is expected to develop into a leading telecommunications manufacturing and export base bringing in investments of more than EUR 1.4 billion (RMB 10 billion) in the coming months. After reaching full capacity, annual sales for the Park are estimated to grow to over EUR 7.14 billion (RMB 50 billion), involving more than 30 international and local players and creating in excess of 15,000 jobs.

Last year, Nokia launched a new phone model, the Nokia 3350, designed in China and for the China market, fully featured for local language requirements. The company has also just launched the Nokia 9210C communicator in China and plans to continue to serve consumers with China-designed devices during 2002. This is in line with the company's target of become the leading manufacturer and brand of choice for consumers in China.

Speaking at the press conference, Urpo Karjalainen, President of Nokia China said: "During the 1990's Nokia invested heavily in China, making it an integral part of the company's global manufacturing and product development chain. Total investments in China to date amount to EUR 2.3 billion and we will continue investing in China, to achieve the clear leadership position on all fronts of mobile communications."

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