ASIA
: Nokia and China Putian today 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. Through this joint
venture the two companies will provide 3G products and solutions to
their customers.
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 joint venture is 900 million RMB (approximately
90 million euros). 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.
China Putian and Nokia have cooperated in GSM technology for over
ten years. The new joint venture will further strengthen this partnership
and enhance both companies' capabilities to provide services and solutions
to their customers.
"China Putian has actively participated in the R&D and industrialization
of TD-SCDMA technology and was among the first companies to pass the
TD-SCDMA field trials, organized by the Chinese Ministry of Information
Industry, with excellent performance", said Xing Wei, Chairman
and CEO of China Putian. She continued, "We are happy to extend
our cooperation with Nokia, which has such strong competence in WCDMA,
and are confident that the new joint venture will be successful".
"The widened cooperation between China Putian and Nokia will
contribute greatly to the 3G industry development in China. It shows
Nokia's concrete commitment to TD-SCDMA technology", said Simon
Beresford-Wylie, Executive Vice President and General Manager, Networks,
Nokia.
About China Putian
China Putian Co., Ltd. (China Putian in short) is an equipment manufacturer
and service provider focused on telecommunication industry. It provides
complete communication networks core products and solutions. It is
one of the initiators of Chinese TD-SCDMA Industrial Alliance. It
was established on July 23, 2003 in Beijing with a registered capital
of RMB 1.9 billion Yuan.
China Putian has set important industrial manufacture bases in Yangtze
River Delta, Zhujiang River Delta, Jingjinji Economic Cycle and Middle
West region of China. It owns 6 listed companies, 4 postdoctoral laboratories,
and over 5000 R&D staff. China Putian owns the international bidding
agent qualification awarded by the Ministry of Commerce. Its product
and service have been sold to dozens of countries and regions. Meanwhile,
it also undertakes international communication engineering projects
and provides system solutions.
