Nokia has substantial stakes in China, where it is number one in mobile phone sales and number two in global standard for mobile communications GSM infrastructure. Nokia has sales centers all over China, seven joint ventures and one wholly-owned plant.
Nokia has had a large business presence in China since the mid nineties, says David Blair, managing director of Nokia Treasury, speaking at the recent Eurofinance Cash and Treasury conference in Singapore. And such considerable stakes warrant very careful foreign exchange risk management strategies. But you can't apply the same techniques for risk management as you can in Europe. Risk management in China has to be adapted to local conditions and...
