Panasonic Mobile JV for 3G in China
A mobile phone subsidiary of Japan’s home electronics giant Matsushita said it has set up a joint venture with a US firm in China to develop 3G mobile networks. Capitalized at 10 million dollars, Universal Communications Technology Co. Ltd., located in the eastern Chinese city of Hangzhou, will also market the 3G networks in China.
Matsushita’s subsidiary Panasonic Mobile Communications Co. Ltd. will hold a 51 percent in the stake with US telecoms equipment maker UT Starcom Inc. taking the rest, Panasonic Mobile said in a statement. Continue >>