Nokia inks handset deal in China
Distribution agreements worth more than $2 bilThe world's largest mobile phone maker Nokia said Thursday that it had won handset deals with distributors in China worth more than $2 billion.
A spokesman said one agreement was with China PTAC, worth over $1 billion, and the other was with Telling Telecommunication Holding Co. Ltd., also worth over $1 billion.
Nokia usually announces such deals in China once a year. The value of the agreement with PTAC fell for the third straight year, and was down sharply versus the 2009 figure of $1.76 billion.
China was Nokia's third-largest sales area in 2009 with revenue of €6.4 billion ($8.6 billion), flat year-on-year.
Nokia shares traded up 1.8% at 11.74 euros at 1333 GMT, keeping pace with a firmer Dow Jones Stoxx Technology index.