Finnish handset maker Nokia has clinched a deal with China PTAC Communication Service Co. Ltd., whereby the Chinese mobile phone distributor will purchase mobile phones worth $1.76 billion from Nokia in 2009.

The size of this year’s deal stands a little smaller than the previous years, with the last year’s framework deal valuing at $2 billion, and the 2007 deal at $2.5 billion.

Additionally, the two parties are also set to extend their strategic ties, vis-à-vis third-generation and operator business, added the company.

Expanding further on the contract, Nokia said, “Nokia, the world''s largest mobile phone manufacturer, and China PTAC, China's largest mobile phone distributor, enjoy a long-standing partnership that continues to strengthen. This new partnership agreement marks another significant milestone for both parties.”