Nokia Invests $75 Million In Chennai, India Manufacturing Plant

by Darren

Nokia has been following a specific strategy in India, including attempting to make as many of the phones in the country as possible. That strategy continues today as the Finnish mobile phone manufacturer announced they have invested another $75 million into their plant in Chennai.

Nokia (NYSE:NOK)
today announced fresh investments of approximately USD 75 million towards its manufacturing plant in Sriperumbudur, Chennai, India, for the year 2008. This investment is geared towards enhancing the capacity of the manufacturing plant to cater to the burgeoning need of the Indian and other emerging markets. The manufacturing plant currently employs approximately
6000 people.

Nokia started manufacturing in Chennai in January 2006 and has achieved the distinction of the fastest ramp up by any Nokia factory worldwide. The plant plays an integral role in Nokia’s global production network of mobile devices.

“We are extremely pleased with the progress made by our manufacturing plant in Sriperumbudur, Chennai. The decision to make additional investment in the plant is a reflection of Nokia’s commitment to the Indian mobile communications industry and of the increasing demand for mobile devices from Asia, Middle East and Africa. Nokia will continuously strengthen its manufacturing network to drive greater agility within the business and increase its competitiveness”, said Raimo Puntala, Senior Vice President, Operations and Logistics, Nokia.

The plant produces half of its’ phones for domestic consumption and the rest are exported.