FORTUNE Telecom Holdings Ltd, a Hong Kong distributor of mobile phones, and Singapore-based TeleChoice International Ltd plan to start a venture to supply services for Nokia Oyj handsets in China.

Fortune Telecom will pay HK$45 million (US$5.8 million) for a 60 percent stake in the venture, while TeleChoice will spend HK$50 million for the remaining equity, according to a statement filed to the Hong Kong stock exchange yesterday, Bloomberg News reported.

The venture will provide logistical services for products of Nokia, the world's biggest maker of mobile phones, in China, according to the statement, which didn't give details. China is the world's largest wireless communications market, with 487.4 million users at the end of April.