Nokia to invest £159m in partners as Chinese expansion continues

Written by: James Pearce
Nokia to invest £159m in partners as Chinese expansion continues

Finnish manufacturer’s investment arm, Nokia Growth Partners, is looking to invest in mobility companies in the US, Europe and Asia, as its Chinese office takes on two new staff

Nokia has today committed $250 million (£159 million) to growing its partner companies, as the Finnish manufacturer takes on two new senior staff in China.

The money will be invested by Nokia Growth Partners (NGP) in companies in the US, Europe and Asia which work in mobility. NGP’s financial support is aimed at helping its partners extend their reach and take products to the global market.

Nokia’s investment body, which counts companies such as broadcaster Network 18 and cloud platform CloudMark as partners, has also appointed David Tang as managing director and Lu Guo as principal of its Chinese team.

David Tang joins NGP from technology company AMD where he was corporate senior vice president and president of AMD China. Previous to that Tang was vice chairman of Nokia China.

Lu Guo joins from Keytone Ventures where he was vice president responsible for mobile and internet investments. They will be based in Beijing.

NGP managing partner Paul Asel welcomed the appointments, adding that China is “an important market for Nokia.”

Leave a Reply

To advertise on this site, call 0203 122 0872

Recent Comments

This is a start but all mobile phone companys should be offering free 0800 numbers ASAP. Its so long overdue!...
I have 2000 shares in Dixons. What will end up with after the merger....
I purchased a cell phone from Sprint and had several problems with service. next time I'll go direct to Orange, and it's cheaper!...
As a BT Mobile customer all progress such as this is good. but until BT Mobile can control / cap data spend the project in our view is still born....
Ask Samsung about their recruit policies regarding ethnic minorities. Equal opportunities employer? joke...
WHEN IS MOTO G 4G RELEASNG IN INDIA...
Coverage is still the biggest issue with 4G. I live in a city an I'm still waiting... none of the networks have enabled 4G here yet! So until they do there is no point in upgrading my 3.5 year ol...
By this time next year windows phone. Will surely number 2 OS and by 2016 it will surely overtake Android....
Who do you suggest? Travellers pay huge amounts a year to use the rail network - which ultimately results in huge amounts of tax. Seems only fair that some of that goes back in to providing a bet...
Orange charge 12p per text message on PAYG in UK but EU say they have to charge 5p in EU??? So when did the UK leave the EU??...

Social Media Feed