Nokia has announced plans to invest EUR200 million (US$276 million) in a new handset assembly factory, near Hanoi in northern Vietnam.
According to cellular-news, the company said that further investments in the factory are expected after the factory opens in 2012. The site would further expand Nokia's manufacturing network, which currently consists of ten major facilities in nine countries.
"I am extremely excited about this opportunity and about the support and commitment that Vietnam has offered to Nokia, " said Juha Putkiranta, Senior Vice President, Nokia. "This new manufacturing site will play a key role in our effort to connect the next billion to the web."
Nokia first started selling products in Vietnam in 1996. Nokia has a global manufacturing network stretching from Latin America (Brazil and Mexico) to Europe (Finland, Hungary, Romania, the UK) and Asia (China, India, Korea).
