Goa: Improved performance in 2007 has catapulted global mobile handset equipment leader Nokia to the world's fifth most valuable brand, worth Euro 35 billion (about Rs 2,10,000), after Coca Cola, Microsoft, IBM and General Electric.

"Nokia accounts for 64 per cent of the industry profit with 38 per cent market share worldwide. We have moved up from slot six in 2006 to number five in 2007 in the list of most valuable brands," D Shivakumar, VP and Managing director, Nokia India, told reporters here.

India, which is adding over seven million new mobile subscribers every month, has a major role in Nokia's overall growth and has become the second largest market for the company after China.

With annual turnover at Euro 3.6 billion, India contributed nearly seven per cent to Nokia s total global revenues of Euro 51 billion in 2007, Shivakumar said, adding that Nokia has been placed at number two in the brand positions by Fortune magazine.

Asked by when India would become the number one market, Shivakumar simply said: "China is giving a business of Euro 5.9 billion compared to India's 3.6 billion Euros. It will take some time to reach that level."

On expansion plans in India, he said the Finnish company has invested 210 million dollars for setting up a manufacturing facility in Tamil Nadu and "today the Indian facility is perhaps one of the best among nine factories in the world Nokia has."
Source : PTI