Nokia Seals Handset Deals With China Worth $2 Billion

Nokia 6700 Slide

Nokia (NYSE: NOK) has renewed two handset deals with Chinese distributors worth $2 billion that will help it continue being the world’s largest mobile phone maker.

However, the annual contracts are smaller for the third straight year in a row, reports Reuters. One of the deals, worth more than $1 billion, is with China PTAC, and the other $1 billion-plus contract is with Telling Telecommunication Holding Co. In 2009, the one with PTAC was worth $1.76 billion.

Last year, China represented Nokia’s third largest region with revenues of 6.4 billion euros ($8.6 billion), flat year-on-year.

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