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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Lurgio who wrote (1995)	8/3/1999 9:23:00 AM
From: Diamond Jim	Read Replies (1) \| Respond to of 34857

Nokia Clinches US$500M Worth of Deals in China August 3, 1999 (BEIJING) -- Nokia, a leading Finnish supplier of global system for mobile communication (GSM) equipment, has struck a number of deals with Chinese telecom firms to expand GSM networks in China. The contracts are valued at US$500 million in total. One deal was reached between two of Nokia's joint ventures in China -- Beijing Nokia Mobile Telecommunications Ltd. and Beijing Nokia Hang Xing Telecommunications System Co., Ltd. -- and Beijing Telecommunication Administration (BTA) for further expansion of the BTA network. Under the agreement, Nokia will deliver BTA GSM equipment, including mobile switch centers, home location registers, base stations and base station controllers. Nokia's intelligent network platform and Chinese-language Short Message Services are among the value-added services currently in use in the network. Before that, the two joint ventures also signed an agreement with Fujian Mobile Telecommunications Bureau on expansion of its GSM network. The contract value exceeded RMB2.6 billion (US$300 million). Other agreements also include those with three branches of China United Telecommunications Corp. (China Unicom). Nokia has supplied GSM technology to 84 operators in 38 countries and regions so far. In 1998, its net sales totalled US$15.7 billion. (Xinhua News Agency)