China Telling seals US$1b Nokia deal
By Zhu Shenshen |
April 1, 2010, Thursday
|
Print Edition
Print Edition
CHINA Telling, a telecommunications distributor, signed an agreement with Finland's Nokia Corp to purchase US$1 billion worth of mobile phones in 2010, the Shenzhen-listed firm said yesterday.
Both companies also agreed to cooperate in 3G as well as entry-level phone models and products that are suited for rural regions, China Telling said in a statement to the Shenzhen Stock Exchange yesterday.
"The deal shows both sides' confidence in the Chinese handset market," said Guo Haiyan, a CICC analyst. "The 3G and rural regions are the two fastest growing segments in the market."
Fierce competition in China, the world's No. 1 mobile phone market with more than 700 million users, will force handset vendors to depend more on national distributors, like China Telling, to sell their phones nationwide.
This cooperation with Nokia will help China Telling consolidate its market position and improve profitability, the company said.
This is not the first deal China Telling has inked with Nokia, the world's largest maker of mobile phones. It signed two contracts with Nokia to purchase US$1 billion worth of products in 2009.
The latest agreement is an indication that China Telling will likely buy more phones from Nokia in 2010, according to industry insiders.
Both companies also agreed to cooperate in 3G as well as entry-level phone models and products that are suited for rural regions, China Telling said in a statement to the Shenzhen Stock Exchange yesterday.
"The deal shows both sides' confidence in the Chinese handset market," said Guo Haiyan, a CICC analyst. "The 3G and rural regions are the two fastest growing segments in the market."
Fierce competition in China, the world's No. 1 mobile phone market with more than 700 million users, will force handset vendors to depend more on national distributors, like China Telling, to sell their phones nationwide.
This cooperation with Nokia will help China Telling consolidate its market position and improve profitability, the company said.
This is not the first deal China Telling has inked with Nokia, the world's largest maker of mobile phones. It signed two contracts with Nokia to purchase US$1 billion worth of products in 2009.
The latest agreement is an indication that China Telling will likely buy more phones from Nokia in 2010, according to industry insiders.
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