Nokia (NOK) has signed a strategic partnership agreement with China Postel Mobile Communication Equipment Company of China P&T Appliances.
"I believe that our partnership will continue to bring new energy to the Chinese mobile phone market," said David Tang, vice president of Nokia, expressing his confidence in the agreement.
China Postel is expected to purchase mobile devices from Nokia to the value of approximately US$2.5 billion in 2007. In addition, both parties have agreed to deepen strategic ties, especially with regard to network channel development, as the two companies make significant bilateral resource investments.
Tan Xinhui, president of China Postel, said, "Over the past few years, we have been pursuing new ways of working with operators, mobile phone manufacturers, and consumers in order to enhance our competitiveness. We hope to have a fundamental role in the development of the Chinese mobile phone market."
As a subsidiary company of China P&T Appliances, China Postel has become a provider of mobile phones and is actively involved in Chinaâ€™s telecom service industry. With a comprehensive distribution network for both products and services, China Postel has been the leading distributor on the China mobile phone market for eight consecutive years, with a market share of over 30% in 2006. Since the collaboration between Nokia and China Postel began in 1998, China Postel has distributed over 37 million Nokia mobile phones across China.