Nokia plans €200 million factory in Vietnam

Nokia's initial investment will be followed by 'further, sizeable investments' in the future

Nokia plans to invest €200 million (US$276.3 million) in a new mobile phone manufacturing site near Hanoi in northern Vietnam along "with further, sizeable investments thereafter," the company said Wednesday.

Nokia chose Vietnam due to its location and developing infrastructure, the company said in a statement. In addition, the nation is a good market for Nokia mobile phones, which it started selling there in 1996.

"The new manufacturing site is being established to meet the growth in demand for these phones, as well as help Nokia to deliver a contemporary mobile experience to the next billion consumers all over the world," Nokia said.

The first factory in Vietnam will open in 2012, Nokia said. The company currently supports ten major facilities around the world, including in Brazil, Romania, India, China and the U.K.

The world's largest mobile phone vendor estimates that while 90 percent of the world's population lives within range of a mobile phone signal, 3.2 billion people still do not own a handset. Of the 3.7 billion people who do own a mobile phone, Nokia reckons that fewer than half of them use their handset to access the Internet. The trends provide Nokia with the opportunity to sell more handsets overall and more advanced phones that can connect to the Internet.

Vietnam has attracted more and more investment, particularly in the technology sector, over the past several years and in particular as labor and other costs in China rise. A number of companies, including chip giant Intel as well as Taiwanese manufacturers such as laptop maker Compal Electronics, have invested in Vietnam.

Join the newsletter!

Or
Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags Nokiabusiness issuesinvestments

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Dan Nystedt

IDG News Service
Show Comments

Essentials

Mobile

Sansai 6-Outlet Power Board + 4-Port USB Charging Station

Learn more >

Victorinox Werks Professional Executive 17 Laptop Case

Learn more >

Exec

Budget

Back To Business Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?