BEIJING-Nokia Corp. and China Putian are teaming up to focus on third-generation network solutions for TD-SCDMA and W-CDMA technology. Nokia says the joint venture will include everything from research and development to manufacturing and sales.
The newly formed venture, named Potevio, will be headquartered in Wuhan, the capital city in China’s Hubei Province. Total investment in Potevio is about $109 million, and China Putian will have 51 percent of the shares while Nokia will have 49 percent.
TD-SCDMA and W-CDMA products are expected to hit the market in 2006 under the Potevio brand.
“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 chief executive of China Putian.
China Putian is a telecommunications equipment and service provider, and was established in Beijing in 2003.
“The widened cooperation between China Putian and Nokia will contribute greatly to the 3G industry development in China,” said Simon Beresford-Wylie, executive vice president and general manager for Nokia Networks. “It shows Nokia’s concrete commitment to TD-SCDMA technology.”
