Nokia confident it will maintain market share in China

Nokia (NYSE: NOK) Oyj, the world’s top cellphone maker, is confident of maintaining its leading 35 percent market share in China even as the world’s largest mobile market continues to expand rapidly, an executive told Reuters on Friday.

Inexpensive phones under $100 would continue to lead Nokia’s drive into emerging markets such as China and India as it balances the need for market share with profitability, Colin Giles, president-designate of Nokia China, said on the sidelines of a company conference.

"Market share is critical for the company globally because we need the benefits of scale," said Giles, who will become president of Nokia China early next year.

"But you have to get the right balance between market share and profitability," he added.

Globally the company increased its market share to 36 percent with a 33 percent surge in sales in the third quarter, though rivals Motorola (NYSE: MOT) and Sony Ericsson (NYSE: SNE) also grew quickly, increasing quarterly unit sales by 39 and 43 percent.

Source: Reuters

Well good luck in China Nokia, I mean after all there population is only a hair over a billion people