Nokia Signs $2 Billion Deal To Supply Handsets In China

Another big win for Nokia (NYSE: NOK). The Finnish handset giant announced today that it had struck a deal with Chinese mobile phone wholesaler China Postel to supply $2 billion worth of handsets in China. Reuters reports the deal is one of Nokia's biggest in what is its top market. It previously signed a deal in 2007 with China Postel to supply $2.5 billion worth of phones. With Motorola (NYSE: MOT) in disarray, Nokia has seen its global market share hit 40 percent. In the fourth quarter, Reuters (NSDQ: RTRSY) notes, it sold more phones than all three of its closest competitors.