Wednesday, October 12, 2005

Nokia Establishes 3G Joint Venture with China Putian

Nokia and China Putian will set-up a joint venture in Wuhan, the capital city of China's Hubei Province, to 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 joint venture is 900 million RMB (approximately EUR 90 million). China Putian and Nokia will have 51% and 49% shares respectively in the joint venture. 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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