India Surpasses The US As Nokia Second Largest Market
India has become the second largest market for Nokia in terms of sales, Nokia recently announced. The country managed to pass the United States in the quarter ended June 2007 and now only China stands between it and the supreme position.
August 24, 2007
"India is playing an increasingly important role in the global economy buoyed by impressive economic growth, skilled manpower and tremendous business opportunity. As the market leader in devices and infrastructure, Nokia is committed to build the telecom ecosystem in the country and foster the creation of a favorable environment for collaboration and economic development,"(Olli-Pekka Kallasvuo, President and CEO of Nokia Corporation)
The country has been known for a long time as the “pearl of the British crown”. Is the country now looking to become the jewel in Nokia's crown as well? The facts seem to indicate so.
India has been constantly gaining ground over the last three years. Back in 2005 it was located in the fourth position in the top. One year later the country moved up the ladder to third place, right behind the US. Now the US had to step down and let the Asian countries carry on the dispute for supremacy.
In related news, Nokia also announced that Sriperumbudur, Chennai manufacturing plant has reached production volumes of 60 million handsets (August 2007) and is exporting half of its production to 58 countries across Middle East, Africa, Asia, Australia and New Zealand.