CISCO BIDDING ON QCOM FOR CHINA CDMA2000 - MAKES SENSE!
Sunday June 4, 1:01 pm Eastern Time
Cisco, China Unicom sign deal to extend alliance
NEW YORK, June 4 (Reuters) - Cisco Systems Inc. (NasdaqNM:CSCO - news), the world's biggest maker of Internet equipment, and China Unicom, said they signed a memorandum of understanding intended to speed the time to market of the No. 2 Chinese telecommunications carrier's new products.
Under the deal, which was announced on Friday, Cisco plans to provide technology products and consulting to China Unicom on new services.
Financial terms of the deal were not disclosed.
The two-year agreement extends an existing relationship between China Unicom and San Jose, Calif.-based Cisco, the companies said in a statement. The two companies also plan joint marketing campaigns for Unicom services that receive Cisco accreditation.
On Saturday, the official China Daily Business Weekly said China Unicom has scrapped a project using current CDMA wireless telephone standards, but will build a network using later-generation CDMA technology.
Cisco's shares closed up 3-7/16 at 64-3/8 on Friday on the Nasdaq stock market, off of their year-high of 82 but well above their year-low of 26-3/8.
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