Nokia signed a contract worth 2 billions

Nokia has signed a strategic partnership agreement with China Postel Mobile Communication Equipment Co., Ltd. (China Postel) of China P&T Appliances. China Postel is expected to purchase mobile devices valued at approximately USD 2 billion from Nokia in 2008. In addition, both parties have agreed to strengthen strategic ties, especially with regard to channel development, resource investment, and marketing management.

As a subsidiary company of China P&T Appliances, China Postel has become a provider of mobile phones and is actively involved in China's telecom service industry. With a comprehensive distribution network for both products and services, China Postel has been the leading distributor on the Chinese mobile phone market for nine consecutive years, and enjoys a current market share of nearly 30%.