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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: foundation who wrote (8531)	3/14/2001 7:12:51 AM
From: foundation	Respond to of 197623

LG Electronics Eyes China CDMA Mobile Market SEOUL, SOUTH KOREA, 2001 MAR 14 (NB) -- By Adam Creed, Newsbytes. With code division multiple access (CDMA) mobile telephone services due to be licensed and rolled out in China soon, Korean electronics giant LG Electronics has set up joint venture agreements to gain access to that developing market. The Korean company is preparing to develop CDMA handsets and CDMA systems for Chinese mobile phone networks. A joint venture CDMA handset company has been set up with local partners Langchao Electronic Information Industry Corporation, Yan Tai Development Zone Distribution Center, and Cherry S/W). LG will own 49 percent of the venture. The new company, Langchao LG Digital Mobile Communication Technology R&D Center Co. Ltd will set up a research center in Shandon province. It will have $2 million in the bank, and later this year transform into a production and sales center. A joint venture CDMA network systems company has been set up with Capitel Group - a subsidiary of the China National Posts & Telecommunications Industry Corporation). Beijing Capitel-LG Mobile Telecommunications Co. Ltd. will have initial capital of $13 million and focus on R&D, production, sales and customer service of CDMA system products. First Capitel-LG systems are due to be available toward the end of 2001. The Capitel Group is also currently in joint ventures with Nokia and Ericsson, and is one of the 12 companies that will bid for a CDMA license in China. The CDMA bidding is to be organized by China Unicom around March. Reported By Newsbytes.com, newsbytes.com .