Shenzhen Huawei Technology Co. Ltd., one of China’s leading telecom equipment manufacturers, and Siemens Mobile signed a contract Thursday to build a joint-venture to develop products based on the TD-SCDMA standard. Over 100 million US dollars will be injected into the project. Siemens will hold a 51 percent stake and Huawei 49 percent.
Insiders believe the move will help promote application of the TD-SCDMA standard in China. Now 300 staff have begun to work for the joint venture, with 200 of them from Siemens Mobile and 100 from Huawei. Under the contract, the joint-venture will provide wireless equipment designed in compliance with the TD-SCDMA standard within this year. CONTINUE