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To: Ruffian who wrote (56557)12/24/1999 12:05:00 AM
From: LBstocks   of 152472
 
LGIC to set up CDMA-producing base in China
LG Information and Communications (LGIC) has formed a joint venture in China to manufacture and market a CDMA (code division multiple access) type WLL (wireless local loop) system there, the company announced yesterday.

Guangzhou Post & Telecom Equipment Co. (GPTE) and Guangdong Telecommunication Academy of Science and Technology (GTAST) are LGIC's local partners in the newly formed Guangzhou LG-TOPS Communication Technologies Co.

LGIC and GPTE each holds a 40 percent interest, while GTAST holds a 20 percent interest in the new joint venture in which about $160 billion will be invested. When the production facility is completed by the first half of next year, about one million circuits will be produced annually, according to LGIC.

The new company will initially concentrate on forming the telecom infrastructure, manufacturing CDMA WLL systems under the LG-TOPS brand name. The company plans to take a majority of China's CDMA WLL market share in three years by eventually manufacturing CDMA handsets as well.

LGIC's position in the Chinese telecom market has been greatly boosted through the latest venture, according to the company, as Guangdong Province accounts for over 20 percent of China's mobile telecom market.

LGIC has been targeting China as a major market lately. In addition to the latest venture, CDMA WLL export deals with Meizhou City, Heyuan City and Quanzhou City are also under negotiations, according to the company. (KHR)

Updated: 12/24/1999
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