Mobile phone maker Nokia is to invest in a joint undertaking with China-based New Alliance which is part of Shanghai Alliance Investment, a telecoms and media company.

Nokia want to increase their services in the Chinese market which is the biggest market in the world. By targeting the mobile and internet market with New Alliance, Nokia hope to gain an advantage. The equal venture is to be named Nokia Alliance Internet Services Co Ltd (quite a mouthful) and should be open at the beginning of next year.