Nokia embraces China

Feb 23 2005 - 12:42 AM ET | Nokia
Jorma Ollila, Nokia's CEO, is in Beijing today to celebrate Nokia's 20th anniversary in China. China is currently the world's largest mobile phone market, with over 330 million subscribers (in comparison, the US market is about 170 million subscribers). bq. "We target strengthening our market share in China again this year, with growth largely on the strength of ongoing expansion into non-urban areas and our ability to keep coming up with the quality, tailored high-tech products that our Chinese customers want." Mr. Ollila also noted that price cuts are not part of Nokia's plan for 2005. In 2004 Nokia cut prices in the second half of the year to help spur sales, the strategy worked.