Beijing, China - 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.
For further information about CHINA PUTIAN, please visit www.china-putian.com
About Nokia
Nokia is a world leader in mobile communications, driving the growth and sustainability of the broader mobility industry. Nokia connects people to each other and the information that matters to them with easy-to-use and innovative products like mobile phones, devices and solutions for imaging, games, media and businesses. Nokia provides equipment, solutions and services for network operators and corporations.
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