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Nokia, CITIC and ABS form a new joint venture in China to manufacture digital multimedia terminals
October 15, 1999
Nokia, CITIC Technology Co. Ltd. and the Academy of Broadcasting Science, SARFT (State Administration of Radio, Film and Television), have entered into an agreement to establish a new joint venture in China to manufacture digital multimedia terminals for Chinese markets.
The Beijing-based company will be called NOKIA CITIC Digital Technology Co. (Beijing) Ltd. Deliveries are scheduled to start this month. Nokia has a strong local presence in China and is now enhancing its digital multimedia terminal business in the region through local production.
"We are currently finalizing the first deals with our Chinese customers and we are very pleased to be able to start local production in China already this month," says Kimmo Paaso, Vice President, Asia Pacific, Nokia Multimedia Terminals. "We do not foresee significant growth in the digital television market during the next year, but digitalization of Chinese broadcasting is expected to get underway during the first few years of the new millennium."
About Nokia
Nokia is paving the way to the mobile information society with its innovative products and solutions. Nokia is the leading mobile phone supplier and a leading supplier of mobile, fixed and IP networks including related services. It also supplies multimedia terminals and computer displays. In 1998, net sales totaled EUR 13.3 billion (USD 15.7 billion). Headquartered in Finland, Nokia is listed on the New York (NOK), Helsinki, Stockholm, London, Frankfurt and Paris stock exchanges and employs more than 51 000 people.
Contact information:
Jyrki Rosenberg
Communications Manager
Nokia Communications Products
+358 9 511 62127
Kimmo Paaso
Vice President, Asia Pacific
Nokia Multimedia Terminals
+65 377 4608
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