Nokia-Putian Sign JV Deal

A couple years ago, ex-Nortel CEO Bill Owens made a big deal about the company's focus on India and China. Well, the Indian foray hasn't gone very well given Nortel has lost close to $200-million from a wireless deal it did with Bharat Sanchar Nigam Ltd. As for China, Nortel signed a joint venture MOU in 2004 with China Putian to co-develop 3G wireless technology, which was supposed to give Nortel a better foothold in the industry before the Chinese government unveils its 3G licenses. Well, the MOU never moved forward, and the agreement was eventually dissolved. Now, Nokia has stepped in with a joint venture that will see Putian own 51% and Nokia 49%. The JV will mainly manufacture and market telecoms equipment such as base stations based on the 3G standards TD-SCDMA and WCDMA.

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