Mumbai: Nokia has announced its plans to invest in a new manufacturing facility in India to better meet the demand for mobile devices in the country. Growing mobile penetration in the Asia-Pacific region is expected to be a major contributor to the global mobile subscriber base surpassing the two billion mark in 2006.
Pekka Ala-Pietilä, president of Nokia, currently in India, informed the media, "India's position at the heart of a rapidly growing mobile communications region makes it an attractive option for establishing our new manufacturing facility. The factory would be an integral part of our global manufacturing network and help fulfill growing demand as mobile communications become increasingly affordable and available to more people in this diverse region."
Nokia anticipates investing an estimated USD 100-150 million along with its key suppliers over four years once the final investment decision is made. Nokia foresees ramping up the factory gradually and the work force reaching approximately 2,000 employees. The final investment evaluation process is expected to be completed in the first quarter of 2005.
Nokia currently has nine mobile device manufacturing facilities around the world.