Korea's Telson to ship US$61m in handsets to Konka
By Reuters staff
Tuesday, September 04, 2001
Telson Electronics, a Korean mobile phone maker, said on Tuesday it had signed a contract to supply handsets worth $61 million to China's Konka Telecommunication Technology Co.
"We will supply 340,000 units of CDMA handests of two different types to Konka between December and March in the first shipment," Telson said in a statement.
The Korean company said in August it had clinched a deal to supply handsets worth about 130 billion won ($101.6 million) annually to the Chinese TV and mobile phone maker.
"We expect to sign three to five more supply contracts for next shipments by the end of next year," it said.
Telson had said it would ship handsets through a "semi-knock down" method to Konka, which in turn, would supply assembled products to China Unicom, China's number two wireless carrier.
The amount of each shipment would be decided in accordance with the orders from China Unicom, it said.
Konka makes handsets using GSM (Global System for Mobile communications) standard and Telson would be the only supplier of handsets, using CDMA (code division multiple access) technology, to the Chinese electronics firm.
Shares of Telson, listed on the over-the-counter Kosdaq market, were up 6.8 percent at 5,520 won at 0250 GMT. Kosdaq index was down 0.55 percent.
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