re: 1 million 3G Handsets from NEC for Hutchison Italy & UK
Royalties Q4 02?
>> Hutchison Orders 1 million 3G Handsets from NEC
Reuters staff
01 November 2001
Conglomerate Hutchison Whampoa Ltd, which is building third-generation mobile phone networks in several European and Asia-Pacific markets, said on Thursday it had placed an order for more than one million 3G handsets from Japan's NEC Corp.
Terms were not disclosed for the order, which is Hutchison's second for high-speed multimedia-capable 3G phones from NEC.
The companies said in a press release that NEC will begin delivery of the "videophones" in the fourth quarter of 2002 to Hutchison's 3G operations, which include networks under construction in Italy and the United Kingdom.
Among carriers holding costly 3G licences in Europe, Hong Kong-based Hutchison is among the most bullish on the prospects for the unproven technology and has one of the most aggressive rollout schedules, with a launch slated for next year.
Hutchison, which also owns container ports and supermarkets, is controlled by Li Ka-shing, Asia's richest tycoon.
Earlier this year Hutchison announced 3G handset supply agreements with NEC and U.S.-based Motorola Inc.
NEC and Germany's Siemens AG are providing infrastructure equipment to Hutchison's 3G networks in Italy and the United Kingdom.
Thursday's pact is NEC's largest for 3G handsets outside of Japan - where it supplies the world's only commercial 3G network, launched by NTT DoCoMo Inc a month ago.
Shares in NEC rose 5.77 percent to close at 1,174 yen. The Hutchison deal was announced after the close of Tokyo trading.
Hutchison shares were up 0.79 percent at HK$63.75. <<
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