A team of income tax (I-T) officials on Tuesday raided the Chennai-based factory and office of Nokia as part of a probe into suspected tax evasion by the mobile phone maker.

Various media reports suggest that I-T department is looking to recover tax payments to the tune of as much as Rs 30 billion (around $545 million).

However, S Senthamarai Kannan, chief I-T commissioner in Chennai, declined to provide details about the raid, and only said that the team was conducting a "survey."

But, the Indian arm of the Finnish handset maker confirmed that its factory and office were raided by the I-T officials. The manufacturer also claimed that it was fully cooperating with the officials.

Confirming the raid, Nokia said, "Earlier today, tax officials visited Nokia's manufacturing unit in Chennai. Nokia is fully cooperating to ensure they get the necessary information to help in their inquiry."

Nokia generated around Rs 12,000 crore in revenue in 2011-12. Its Chennai plant, which was raided by the I-T officials on Tuesday, was set up in 2006. The manufacturing facility employs nearly 8,000 people, of which more than 70 per cent are women.

The raid by the I-T officials was really a bad publicity for a company that has rapidly lost its dominance in the mobile phone market to rivals like Samsung.

After news of the raid emerged, stock in Nokia slipped more than 6 per cent to 3.07 euros a share in Helsinki.