Nokia Siemens to invest $100 million in India
This will be done to better address and drive the growth of Indian mobile industry and to better serve its customers, reports Supriya Mishra.india Updated: Jul 02, 2007 22:12 IST
Nokia Siemens Networks on Monday announced its plans to invest $100 million in India over the next three years as a part of its commitment to develop a strong telecommunications environment in India. This is to better address and drive the growth of Indian mobile industry and to better serve its customers.
This investment will include setting up a proposed telecommunication equipment manufacturing facility in Tamil Nadu for wireless network equipment, new offices across various cities, additional development of an existing R&D centre, and expanding the Global Networks Solution Centre.
The investment plans were announced by Simon Beresford-Wylie, CEO, Nokia Siemens Networks on the first day of his three day visit to India. This is his first visit to the country as head of the newly formed company.
"The Indian telecommunications market is entering a next wave of growth, one that will see a rapid build out of mobile and broadband networks outside the major cities and delivery of a host of new services to consumers across the country. To address this growing local demand, and reduce the overall time to market of products and services to our operator customers, we are investing in strengthening our local presence and creating a strong ecosystem in India," said Beresford-Wylie.
The proposed facility aims to address the strong market demand in India and will manufacture high end equipment. Nokia Siemens Networks will also establish a network of suppliers with focus on increased localised sourcing. The construction work at the site will begin later this year and commercial production is expected to begin in 2008.
"Nokia Siemens Networks has experienced strong business success since the launch of its operations in India," said Ashish Chowdhary, Head of India sub-region, Nokia Siemens Networks. "With our extensive managed services capability and end to end product portfolio, we are committed to building a strong local telecommunication ecosystem in India to address and drive the growth of the Indian mobile industry."
First Published: Jul 02, 2007 22:01 IST