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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (56236)	11/25/2001 9:40:55 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Monday November 26, 9:33 AM Korea Samsung in $12mln CDMA j/v with Shanghai Bell sg.biz.yahoo.com SEOUL, Nov 26 (Reuters) - South Korean electronics giant Samsung Electronics Co <05930.KS> said on Monday it would establish a mobile handset joint venture with China's Shanghai Bell Co to boost its presence in the world's top mobile market. Samsung said in a statement it had obtained Chinese government approval to set up a CDMA (code division multiple access) system joint venture in China with the leading Chinese telecoms equipment manufacturer. Initial paid-in capital would be $12 million with Samsung assuming a 49 percent stake in the new entity, Shanghai Bell Samsung Mobile Communications Co Ltd, and Shanghai Bell the remaining 51 percent, it said. The two companies would also invest $29 million in the new company for CDMA system development, production and marketing, the statement said.