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Nortel Advances Chinese Venture with Putian

Under a joint venture framework signed on Thursday, the companies said they plan to establish Putian-Nortel Networks Telecommunications Equipment Co.

State-owned China Putian, one of China's largest telecom equipment manufacturers, will control the venture, with a 51 percent stake, with Nortel holding the remaining 49 percent.

Financial terms of the pact, which the companies expect to finalize by June 30, were not disclosed.

The company, likely headquartered in Wuhan, the capital of China's central province of Hubei, will research, develop, manufacture and sell 3G equipment, which is advanced wireless technology, for customers in China.

It will focus on Time Division-Synchronous Code Division Multiple Access (TD-SCDMA), a Chinese 3G wireless standard, and Wideband CDMA (WCDMA) technology and related network services, Nortel said.

Last June, Nortel signed a memorandum of understanding to co-operate on research, development and the manufacture of wireless gear with China Putian. That arrangement was subject to a binding agreement.

Nortel is trailing some rivals that have already formed partnerships in China.

Germany's Siemens has a long-standing relationship with Huawei Technologies, China's top telecom equipment maker, and France's Alcatel recently announced a $32 million investment in Datang Mobile to gain access to TD-SCDMA technology.

Nortel's chief executive, William Owens, has repeatedly pointed to China as a competitive threat, due to lower costs, and as a significant market opportunity that requires an expanded presence.

Brampton, Ontario-based Nortel already has a services joint venture in China as well as a technology-development joint venture, Owens said at an investor conference last November.

"In these joint ventures and in our pure Nortel employees in China we have over 3,500 people there," he said at the time. "But that's just the beginning and stay tuned."

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