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Telcos ink US$1.1b deals with venture
By Zhu Shenshen |
February 26, 2009, Thursday
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Print Edition
Print Edition
NOKIA Siemens Networks won an order worth about 880 million euros (US$1.13 billion) from China Mobile and China Unicom, the company said in an e-mailed statement late yesterday.
The joint venture between Nokia and Siemens signed the agreement with the two Chinese telcos during a Chinese trade delegation's visit to Berlin. The agreement was one of the 37 procurement deals worth a total of 11 billion euros (US$14 billion) that the business delegation, headed by Commerce Minister Chen Deming, concluded with German businesses yesterday.
Meanwhile, Nokia Siemens Networks will continue to invest more in research and development in China, including the 3G sector, despite the tough economic environment, the company's Chief Technology Officer Stephan Scholz said yesterday in Shanghai.
In 2008, Nokia Siemens' spending on global R&D hit 2.5 billion euros (US$3.2 billion), 16 percent of its global revenue.
Nokia Siemens won't reduce the R&D spending and will expand the research facility in China this year, despite the tough economic environment, said Scholz.
He said 3G will bring the venture "huge opportunities in China" and the firm will continue to step up research in both 3G and 4G.
Nokia Siemens has set up six research centers in China, including Hangzhou in Zhejiang Province, to research 2G, 3G and 4G technologies, and Shanghai on optical products.
In January, China issued 3G licenses to three telecom carriers - China Mobile, China Unicom and China Telecom. The 3G mobile services allow users access to high speed services like video conferences and film downloads.
The joint venture between Nokia and Siemens signed the agreement with the two Chinese telcos during a Chinese trade delegation's visit to Berlin. The agreement was one of the 37 procurement deals worth a total of 11 billion euros (US$14 billion) that the business delegation, headed by Commerce Minister Chen Deming, concluded with German businesses yesterday.
Meanwhile, Nokia Siemens Networks will continue to invest more in research and development in China, including the 3G sector, despite the tough economic environment, the company's Chief Technology Officer Stephan Scholz said yesterday in Shanghai.
In 2008, Nokia Siemens' spending on global R&D hit 2.5 billion euros (US$3.2 billion), 16 percent of its global revenue.
Nokia Siemens won't reduce the R&D spending and will expand the research facility in China this year, despite the tough economic environment, said Scholz.
He said 3G will bring the venture "huge opportunities in China" and the firm will continue to step up research in both 3G and 4G.
Nokia Siemens has set up six research centers in China, including Hangzhou in Zhejiang Province, to research 2G, 3G and 4G technologies, and Shanghai on optical products.
In January, China issued 3G licenses to three telecom carriers - China Mobile, China Unicom and China Telecom. The 3G mobile services allow users access to high speed services like video conferences and film downloads.
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