China Postel signs US$2.5b deal for mobile devices with Nokia
Nokia has signed a deal worth US$2.5 billion to supply a range of advanced mobile devices this year to China Postel Mobile Communication Equipment, the leading distributor of mobile telephones on the mainland.
The deal extends a strategic relationship between China Postel and Finland's Nokia, the world's largest mobile-telephone supplier, which started in 1998. China Postel has distributed more than 37 million Nokia handsets across the country.
China Postel, a unit of the state-owned China P&T Appliances, has led mobile-telephone distribution on the mainland for eight consecutive years, with a market share of more than 30 per cent last year. Bien Perez
51.com raises US$10m in second round of venture financing
China's largest blog community, 51.com, has closed its latest round of financing, with US$10 million in fresh investments from venture capital groups Intel Capital, Redpoint Ventures, Sequoia Capital China and SIG.
