Huawei Technologies, China's largest Telecom equipment maker, today launched a joint venture with UK-based marine engineering company Global Marine Systems to tap the submarine telecommunications market.
The new venture, Huawei Submarine, will deliver undersea network equipment and related services that are essential to communications on a global scale. Its headquarters will be based in Tianjing in North China and will have manufacturing and R&D bases in Beijing, Shenzhen and the UK.
Huawei and Global Marine Systems signed a deal to form the joint venture in December 2007. But the deal did not get approved until recently.
The partnership will help Huawei to take advantage of the boom in the undersea network market, where spending will average $2 billion annually over the next four years, according to telecom research firm T Soja and Associates Inc.