Nokia, the world's top cell phone maker, said it will co-brand a set of Renault Twingo cars that will go on sale later this month, packed with Nokia's navigation system and hands-free equipment."Navigation is a new and fast growing industry and we are also looking for new ways to operate there. Cooperation of Nokia and a car industry is a natural step," Nokia spokeswoman Eija-Riitta Huovinen said on Wednesday.
Earlier this week Nokia offered $8.1 billion for U.S.-based digital map supplier Navteq. It will be the company's largest acquisition, and a clear attempt to get a stronghold in the navigation business, which is one of the fastest-growing sectors in the technology industry.
The global market for car navigation devices more than doubled in the second quarter, according to research firm Canalys, with U.S. firm Garmin and Dutch company TomTom the leading vendors.
Device vendors use map data from Navteq or Tele Atlas, the only two global vendors in the industry. TomTom has made an offer for Tele Atlas.
Renault will sell the Twingo Nokia, which includes the Nokia 6110 navigation phone, for prices starting at $17,220. Twingo Nokias will go on sale on October 29 in France. They will also be sold in Italy, Germany, Slovenia, Belgium and the Netherlands.
