Nokia Signs $2 Billion Handset Contract With China
Nokia, the world's largest handset manufacturer just got even bigger after signing a handset contract with China Postel, a Chinese cellphone distributer, to supply $2 billion worth of handsets to the country.
It's quite a big number but in 2007, Nokia's deal with China Postel was worth $2.5 billion. The difference can be attributed to lower price points on Nokia's handsets. In China, Nokia's dominance is unquestionable selling more handsets in the fourth quarter than its three closest rivals put together. In India, it's dominance is equally apparent.
With Motorola in trouble, Nokia is positioned to considerably improve its lead.