The launch event today is a milestone for Nokia, marking Nokia’s commitment as a long-term partner in Korea and establishing it as a key market in the region, Nigel Litchfield, senior vice president for Nokia Mobile Phones Asia-Pacific, during a media conference.
Th two handset were co-developed with Korean partner Telson Electronics. This is a busy time for the introduction of new handsets as the company produced new models last week for the Americas, Europe and Asia.
The company’s plans to capture a greater share of the South Korean market may be difficult, as the government seems keen to provide favorable conditions to domestic suppliers such as Samsung and LG Electronics
The size of the quotidian market in Korea is estimated at over $3 billion with Samsung taking the largest share; 44%, followed by LG Electronics with 22% and the rest divided between Motorola and smaller companies.
Nokia did not announce any set targets but analysts predict a company with such corporate strength should be seeking to capture 10% for an initial milestone. This move into Korea may however be only a steppingstone into the fastest growing market in the world: China. If Nokia can learn its trade in Asia within the South Korean market then expansion into China will be a lot easier.
