What Ericsson would be buying from Nortel:
Joint Venture
LG-Nortel Co. Ltd., a joint venture of LG Electronics Inc. (Korea) and Nortel Networks Corporation (Canada) was established on November 3, 2005 to specialize in developing and marketing telecommunications equipment and network solutions. With Nortel's heritage of building world-class networks and LG's innovation in communication devices, LG-Nortel is well positioned to deliver on its vision of 'providing the best communication products to enrich the human experience' and is poised to deliver differentiated value to customers by providing products which enable them to freely communicate anytime and anywhere.
Since the announcement in January 2006 of a MOU (Memorandum of Understanding) concerning the joint venture, Nortel and LGE have already successfully collaborated to win significant contracts in South Korea. LG and Nortel have been selected to deploy HSDPA/WCDMA networks for KTF and SKT, paving the way for the joint venture to become a major 3G supplier in one of the most advanced telecommunications markets in the world.
The company's sales and marketing departments are located in the GS Tower building in Kangnam-gu, Seoul and its R&D center is in Anyang, Geonggi province. The total number of company employees is approximately 1,400.
For more information on LG-Nortel, visit www.LG-NORTEL.com*
