According to Silicon Republic, the Finnish mobile giant Nokia is establishing a new manufacturing unit near Hanoi in Vietnam. Nokia plans an initial investment of about €200 million (about $260 million), with plans of further additional investments thereafter. The representatives of Nokia and the Vietnamese government signed a memorandum of understanding marking the beginning of preparations for the plant, targeted to open in 2012.
“Only about 30pc of the world’s population is currently online, and we believe we can play a major role in connecting the next billion not just to their first phone but to their first internet and application experience,” said Esko Aho, executive vice-president, Nokia. The site would further expand Nokia’s manufacturing network, which now consists of 10 facilities in nine countries.