February 28th, 2005
Nokia expected that China may soon overtake the United States as its biggest market. Sales in China now make up 10 percent of the total revenue of Nokia, second only to the United States with 13 percent, but rapid growth will probably push China beyond that, Jorma J. Ollila, the chief executive, said in a visit to Beijing.
Nokia also predicts that mobile phone will be a 700 million unit market in the next five years, more than double the current phones. If Nokia can maintain its current market share in China, it would mean about 140 million Nokia phones. If Nokia can increase its China market share to match its global number (around 35%), that is another 105 million more Nokia phones. Certainly big numbers!