The agreement will result in the settlement of all patent litigation between the companies, including the withdrawal by Nokia and Apple of their respective complaints to the US International Trade Commission.
"The company plans to come up with internet-based services for the rural market soon," Nokia Corporation President and CEO Olli-Pekka Kallasvuo told reporters in New Delhi. The company would also introduce these services in its mid-level mobile devices as well. The Finland-based company is looking at micro finance as a major initiative to increase mobile penetration in India from the current 26 per cent.
Indian and Finnish finance ministry officials on Tuesday discussed Nokia's Rs 21,153 crore (Rs 211.53 billion) tax dispute case and reviewed the double taxation avoidance agreement.
Ahead of the entry of the much-awaited iPhone in India, leading mobile phone manufacturer Nokia is looking at strengthening its marketing, branding and distribution network to maintain its position in the domestic market.
Mobile phone maker Nokia Corporation has launched a search to replace current chief executive Olli-Pekka Kallasvuo, who has been struggling to mark a place for the company in high-end smartphone market, says a media report.
The company currently employs over 9,000 people and has 95,000 outlets with 50,000 exclusive Nokia brand stores.
The Income Tax department on Friday moved the Delhi High Court seeking "directions/clarifications" of the December 12 order by which the assets of mobile phone handset maker Nokia in India were defreezed.
Once the requisite approvals have been received, the joint venture would be primarily engaged in selling value added services for mobile devices.
BlueRun Ventures and Nokia Growth Partners, two venture capital firms supported by Nokia Corporation, hope to invest in one or two Indian start-up companies every year, senior executives said on Tuesday.
The deal with Nokia will be signed in San Francisco on Friday morning in the presence of Tamil Nadu Chief Minister M K Stalin, who is on a 17-day trip to the US to attract fresh investments.
Nokia may be allowed to sell Chennai mobile plant.
The Income Tax department has informed the Delhi High Court that Nokia India and Nokia Corporation owe it Rs 21,153 crore (Rs 211.53 billion) as total tax liability (existing and anticipated), including penalty during a seven-year period from 2006-2013.
Last week, Nokia offered financial help to employees who wished to explore opportunities elsewhere
"All the products that we have announced -- Nokia 3310, Nokia 6, Nokia 5 and Nokia 3 -- will be available in the second quarter of this year in India. Average global selling price for Nokia 3310 is 49 euros," HMD Global Oy Chief Marketing Officer Pekka Rantala said.
Nokia is keen to shift its Chennai plant to Vietnam.
The warning came after Nokia Chairman and interim chief executive officer Risto Siilasmaa met Commerce Minister Anand Sharma and tax authorities in a bid to resolve the Rs 21,153-crore (Rs 211.53 billion) liability it faces.
The Department refused to allow transfer of the plant till the dues claimed by the department are not remitted by the company.
The department has calculated and arrived at the figure and may raise two separate demands.
Nokia suffered a jolt on Friday when the Supreme Court refused to lift the restraint on sale of its Indian assets, including the Chennai plant, as part of the handset maker's global deal with the Microsoft.
'Samsung declared they would not allow the presence of any trade union.' 'This is unacceptable as the rule of law in India permits employees to have a trade union.' 'So, the crux of the strike is this.'
Later, he joined Ericsson India where he handled corporate affairs and communication.
The firm said on Tuesday actions would be taken at its devices and markets units as well as in the corporate development office and global support functions. The cell phone maker noted that it intends to scale sales, marketing and technology management to match the pruned portfolio and global consumer demand.
With a view to augmenting its market in emerging India, Nokia, the world's largest handset manufacturer, will start a design facility in Bangalore.
The decision to shut down the Chennai plant will reduce valuation of Nokia for Microsoft
Dairy major Amul, Life Insurance Corporation of India and mobile manufacturer Nokia have emerged as India's top three brands according to Asia's Top 1000 Brands
Nokia is one of the leading telecom equipment manufacturing companies in India
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HC restrains Nokia from selling, transferring ownership rights in India.
To beat its rivals, Nokia has done what most Chinese brands did soon after they entered the Indian market. Tied up with a well-known Bollywood actor as endorser, associated with cricket and established fan engagement initiatives, reports T E Narasimhan.
While the tax holiday for the factory coming to an end might be a factor, many say the business model of Microsoft (which acquired Nokia's handset division last year), as well as freebies offered by the Vietnamese government, might also have played a role.
In the factory, workers said Friday was the last day as far as production was concerned.
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The two companies have received most of the required regulatory approvals, including clearances from the European Commission and the US Department of Justice.
Company has plans to launch its latest 4G enabled phone Lumia 830 priced at around Rs 26,000 before taxes by Oct.
The Nokia plant near Chennai started operations in 2006.
In a separate tax case, the Supreme Court had ordered Nokia India on March 14 to give a Rs 3,500 crore or Rs 35 billion guarantee before it transfers the plant to Microsoft.
The arbitration clause is present in almost 95 per cent of corporate agreements, according to tax and audit firm Ernst & Young.
Nokia dominated around 40 percent of the world's mobile phone industry in 2008, but its products were eclipsed by touch-screen smartphones made by Apple and Samsung.
Tax problems and unfavourable WTO agreements are making Tamil Nadu's electronics corridor less attractive to companies.
Microsoft Devices Group has unveiled the Nokia 215, its most affordable Internet-ready phone.
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