02 Mar '11, 8am

Nokia to open factory in Vietnam in 2012

Nokia to open factory in Vietnam in 2012

HELSINKI: The world's leading mobile phone maker Nokia said Wednesday it plans to open a handset factory in Vietnam next year in order to take advantage of growing markets in Asia. Nokia said it planned an initial investment of around 200 million euros ($275 million) "with further sizeable investments thereafter," the company said in a statement. Nokia said it had signed a memorandum of understanding in Hanoi with representatives of the communist state, praising the country's location and developing infrastructure. In February, the company revealed a significant strategic shift which included as one of its key missions the goal to connect "the next billion" users to the internet via mobile services. It said it would be focusing on gaining ground in developing markets, particularly in Asia, where the mobile giant faces competition from a myriad of cheaper knock-off models. ...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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