HindustanTimes.com

Tuesday, April 8, 2003

Nokia to start making CDMA phones in China

Reuters
Helsinki, March 31

The world's top phone handset maker Nokia confirmed it would start making
cell phones in China running on the CDMA mobile standard as it looks to
boost its position in the world's largest mobile market.

In addition to the decision, which has been rumoured for weeks, Nokia also
said it would merge its four joint-ventures in China with the new company to
be headquartered in Beijing.

"The new company is well positioned to lead China's mobile handset and
network markets as well as improve its competitiveness in the global
market," Nokia said in a statement.

"The new company represents one of the largest foreign invested enterprises,
as well as the largest manufacturer and exporter in the mobile
telecommunications industry in China," Nokia said.

CDMA, or code division multiple access, is the second-largest mobile network
standard globally behind GSM and is popular in the United States and Asia.
Nokia shares traded off 4.3 percent at 13.03 euros, hit along with other
European technology shares as worries about a prolonged war in Iraq weighed.

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