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Nokia, China Putian team on 3G venture
(Agencies)
Updated: 2005-10-13 21:33
Wireless communications company Nokia and telecom equipment provider China
Putian have signed an agreement to set up a joint venture to focus on R&D,
manufacturing and sales of 3G network solutions for TD-SCDMA and WCDMA
technologies.
The joint venture will be located in Wuhan, the capital city of China's Hubei
Province. It will focus on network solutions for the 3G standards TD-SCDMA and
WCDMA, as well as providing network construction and optimization services.
The total investment in the venture is $1.1 billion (900 million Euro), with
China Putian and Nokia having shares of 51 percent and 49 percent in the
venture, respectively. Products of the joint venture will be marketed under the
Potevio brand held by China Putian. The joint venture will launch TD-SCDMA and
WCDMA systems in 2006.
Nokia will continue to sell WCDMA systems under its own brand both globally
and in China.
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