BEIJING-Siemens AG and Huawei Technologies Inc. said they have formed a joint venture to develop products based on China’s homegrown protocol known as TD-SCDMA.
The JV, known as TD Tech Ltd., will enjoy initial capital of $100 million. Siemens will hold a 51-percent interest in the company, while Huawei will own the balance, a 49-percent stake, according to the companies.
Siemens has already invested up to $170 million in TD-SCDMA.
