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China Telling signs US$1b Nokia deal
By Zhu Shenshen |
March 31, 2010, Wednesday
|
Online Edition
Online Edition
CHINA Telling, a telecommunications distributor, has signed an agreement with Nokia Corp to purchase US$1 billion worth Nokia mobile phones in 2010, the Shenzhen-listed firms said today.
The both sides have signed to cooperate in 3G and entry-level models and products suited for rural regions, China Telling told the Shenzhen Stock Exchange today.
"The deal shows the both sides' confidence in the Chinese handset market," said Guo Haiyan, a CICC (China International Capital Corp) analyst. "The 3G and rural regions are the two fastest growing in the market."
The 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.
China Telling, through cooperation with the world's top handset maker, will consolidate market position and improve profitability, the company said.
China Telling, founded in 1996, signed two deals with Nokia to purchase US$1 billion worth of products in 2009, equal to the first deal value this year. That means China Telling will increase purchasing value with Nokia in 2010, industry insiders said.
China Telling was rated "Recommend" by CICC with a six-month target of 17.8 yuan.
The both sides have signed to cooperate in 3G and entry-level models and products suited for rural regions, China Telling told the Shenzhen Stock Exchange today.
"The deal shows the both sides' confidence in the Chinese handset market," said Guo Haiyan, a CICC (China International Capital Corp) analyst. "The 3G and rural regions are the two fastest growing in the market."
The 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.
China Telling, through cooperation with the world's top handset maker, will consolidate market position and improve profitability, the company said.
China Telling, founded in 1996, signed two deals with Nokia to purchase US$1 billion worth of products in 2009, equal to the first deal value this year. That means China Telling will increase purchasing value with Nokia in 2010, industry insiders said.
China Telling was rated "Recommend" by CICC with a six-month target of 17.8 yuan.
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