Chinese E-commerce Site Signs CNY2 Billion Procurement Agreement With Nokia

Chinese B2C e-commerce website 360buy.com announced that it has formed a strategic cooperation partnership with Nokia, and the two parties signed a CNY2 billion procurement agreement for 2013.

As a part of the cooperation, 360buy.com will gain the direct supply of the full lines of products from Nokia. The website will become a channel of the same level as Nokia's owned stores and franchised stores.

In addition, Nokia's two new products Nokia 2050 and Nokia 920 will be first launched via 360buy.com in China. Nokia 2050 will be reportedly sold via Internet channels only.

Wang Xiaosong, vice president of 360buy.com and general manager for automobile and communications business department, told local media that 360buy.com started its distribution of mobile phone products from 2007, and this sector maintained a nearly 300% growth rate. In 2012, the company's sales of mobile phones will reach up to CNY10 billion.

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