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.