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Fri, Jun 10, 2005 - Page 12 News List

World Business Quick Take


■ Telecoms
Nokia expects sales to rise

Nokia Oyj chief executive Jorma Ollila said global mobile-phone unit sales may grow 15 percent or more this year, helped by demand in countries such as China and India. Nokia on April 21 raised its global handset market growth forecast to 15 percent to 740 million phones this year. Nokia had on Jan. 27 predicted the market would grow 10 percent. "It'll be a healthy market," Ollila said in a Web cast presentation of a speech that was held at a Bear Stearns Cos event in New York on Wednesday. "Operator investment continues to be very stable, solid," he said. Global mobile-phone sales will reach 750 million units this year, up from the 674 million units sold last year and 520 million in 2003, researcher Gartner Inc said on May 25.

■ Telecoms

Telstra gets new CEO

Telstra Corp, Australia's largest telephone company, yesterday named Solomon Trujillo, the former chief executive of US West and France's Orange SA, as its new CEO. Trujillo, who replaces Ziggy Switkowski, will lead Telstra through its A$30 billion (US$23 billion) full privatization, with Canberra expected to sell its 51.8 percent stake in the company in the second half of next year. Prime Minister John Howard's government has long sought to fully privatize Telstra but has been blocked by opposition parties in the Senate. Howard's administration now has control of both houses of parliament, clearing the way for it to pass legislation allowing the sell-off of the government's stake. Trujillo, 53, will move from California to start work at Telstra on July 1, according to a statement released by the company.

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