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Nokia to Invest in New Plant in India
Dec ember 01, 2004 08:50 AM ET
By MATTI HUUHTANEN
HELSINKI, Finland (AP) - Nokia Corp. increased its global market share of mobile phone handsets for a second successive quarter, reaching 30.9 percent with sales of 51.7 million units, market researcher Gartner Inc. said Wednesday.
The announcement came as Nokia said it planned to invest as much as $150 million in a new plant in India to manufacture handsets and other mobile appliances to meet growing regional demand.
Gartner said Nokia managed to increase its market share from 29.7 percent in the second quarter mainly because of price cuts on new models, many of which sport camera phones and some clamshell-style models.
In June, it said Nokia's global market share had dropped to 28.9 percent in the first quarter of 2004 from 34.6 percent a year earlier. Nokia's oft-stated goal is to reach 40 percent.
According to the Gartner report, South Korea's Samsung Electronics was second, with 13.8 percent, followed closely by U.S. manufacturer Motorola Corp. with 13.4 percent, Germany's Siemens with 7.6 percent, South Korea's LG with 6.7 percent and the joint Swedish-Japanese venture Sony Ericsson with 6.4 percent.
Shares of Nokia were down slightly at 12.22 euros ($16.24) in trading on the Helsinki Stock Exchange.
Nokia, which is the world's largest mobile phone maker, has nine manufacturing plants around the world. It is increasingly turning its attention from Europe, where the mobile phone market is reaching saturation levels, to the growing market in Asia.
On Wednesday, it said the investment in India, over four years, will be for a factory that eventually could employ 2,000 workers. A final decision is expected early next year.
"Growing mobile penetration in the Asia-Pacific region is expected to be a major contributor to the global mobile subscriber base surpassing the 2 billion mark in 2006," Nokia said. "India's position at the heart of a rapidly growing mobile communications region makes it an attractive option for establishing our new manufacturing facility."
On Tuesday, Nokia announced a $200 million deal to expand a mobile network in Henan, China.
Earlier this year, Nokia issued a rare profit warning and analysts said it had lost markets to competitors because it failed to produce cheap handsets and catchy, innovative models, like the popular folding clamshell phones.
Its main rivals all came out with models that consumers desired and undercut Nokia's share.
In India, Nokia claims to be "the clear mobile phone market leader," with sales, marketing, customer care, and research and development sites.
Based in Espoo, just outside the Finnish capital, Nokia has sales in 130 countries with some 53,000 employees.
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Dec ember 01, 2004 08:50 AM ET
By MATTI HUUHTANEN
HELSINKI, Finland (AP) - Nokia Corp. increased its global market share of mobile phone handsets for a second successive quarter, reaching 30.9 percent with sales of 51.7 million units, market researcher Gartner Inc. said Wednesday.
The announcement came as Nokia said it planned to invest as much as $150 million in a new plant in India to manufacture handsets and other mobile appliances to meet growing regional demand.
Gartner said Nokia managed to increase its market share from 29.7 percent in the second quarter mainly because of price cuts on new models, many of which sport camera phones and some clamshell-style models.
In June, it said Nokia's global market share had dropped to 28.9 percent in the first quarter of 2004 from 34.6 percent a year earlier. Nokia's oft-stated goal is to reach 40 percent.
According to the Gartner report, South Korea's Samsung Electronics was second, with 13.8 percent, followed closely by U.S. manufacturer Motorola Corp. with 13.4 percent, Germany's Siemens with 7.6 percent, South Korea's LG with 6.7 percent and the joint Swedish-Japanese venture Sony Ericsson with 6.4 percent.
Shares of Nokia were down slightly at 12.22 euros ($16.24) in trading on the Helsinki Stock Exchange.
Nokia, which is the world's largest mobile phone maker, has nine manufacturing plants around the world. It is increasingly turning its attention from Europe, where the mobile phone market is reaching saturation levels, to the growing market in Asia.
On Wednesday, it said the investment in India, over four years, will be for a factory that eventually could employ 2,000 workers. A final decision is expected early next year.
"Growing mobile penetration in the Asia-Pacific region is expected to be a major contributor to the global mobile subscriber base surpassing the 2 billion mark in 2006," Nokia said. "India's position at the heart of a rapidly growing mobile communications region makes it an attractive option for establishing our new manufacturing facility."
On Tuesday, Nokia announced a $200 million deal to expand a mobile network in Henan, China.
Earlier this year, Nokia issued a rare profit warning and analysts said it had lost markets to competitors because it failed to produce cheap handsets and catchy, innovative models, like the popular folding clamshell phones.
Its main rivals all came out with models that consumers desired and undercut Nokia's share.
In India, Nokia claims to be "the clear mobile phone market leader," with sales, marketing, customer care, and research and development sites.
Based in Espoo, just outside the Finnish capital, Nokia has sales in 130 countries with some 53,000 employees.
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