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Nokia scouts for partner for Rs 200-crore media biz

21-April-2009
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Nokia scouts for partner for Rs 200-crore media biz

If anyone thought that slowdown would have dulled the pitch scene, there is another thought coming. After the likes of Britannia and Videocon reviewing their media business, handset manufacturer Nokia is also busy shopping for a new media partner. Hitherto, Nokia was handled by GroupM – globally it was with MediaCom, but in India the business was handled by Maxus. The on-going global Nokia pitch is in advanced stages.

It is understood that GroupM has decided to not participate in the pitch process at all. The reasons for this decision vary and some sections of the media even boil it down to the fees. However, there were no official comments available on the development at the time of filing the report, and exchange4media couldn’t independently ascertain the precise reason behind GroupM’s non-participation.

At present, Nokia’s ad spends are pegged at Rs 200 crore in India. India and China are two of the most important markets for Nokia. Many agencies have already made their presentations to the advertiser, and a second round of discussions is also set to be completed soon.

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