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Nokia Opens Monitor Factory in Hungary
April 23, 1996
Finnish Prime Minister Paavo Lipponen and Nokia Group President and CEO Jorma Ollila today officially opened Nokia's new PC monitor factory in Pécs, Hungary.
Commencing operations last September, the Nokia Monitors Ltd factory currently employs 180 people. The factory outputs 15- and 17-inch monitors for the U.S. and European markets.
Nokia acquired the Pécs factory last September from an Italian electronics company that was discontinuing its operations. Contributing strongly to the decision to purchase the factory were its geographically advantageous location to Western European markets and its highly-skilled personnel.
Nokia started preparations for new production last autumn. In November installation of the first production lines was completed in Pécs, and the first monitors came off the line in December 1995.
The number of employees at the factory has increased while most of the machinery investments were being realized. Production capacity is predicted to grow to 500,000 monitors per year by the end of 1997.
Nokia monitors are primarily marketed in Europe and the United States under own brand name. The company also has OEM production to the world's leading PC manufacturers. Nokia is currently negotiating with several Hungarian subcontractors for potential new co-operation agreements.
Nokia Monitors Ltd is part of the Nokia General Communications Products business group's Display Products division. Nokia's monitors sized above 17-inches and other high-end monitor products are manufactured in Salo, Finland.
Nokia commands a 10 percent share of the European monitor market. Sales in the United States doubled last year. Nokia monitor activities are expanding also to Israel, Italy and Croatia, as well as gradually to Eastern European countries.
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