Matsushita, NEC and Huawei to Setup a Joint-venture Company in China to Expand 3G Mobile Handset Business
date: June 3, 2002
NEC, Matsushita Communication Industrial together with Huawei and other telecom infrastructure systems in China, announced the establishment of a joint venture company "COSMOBIC Technology" in Shanghai, China to further expand the 3G mobile handset business of NEC and MCI. The official date of establishment is April 27th, 2002.
The total capital of COSMOBIC is US$8 million with NEC, MCI and Huawei owning 47%, 47% and 6% of the share, respectively. COSMOBIC is expected to begin its operations by the end of June this year.
Acting as a distribution base for the accomplishment of previously announced joint collaboration activities of NEC and MCI, the new company aims to accelerate the penetration of next generation mobile handsets and mobile internet technologies. The business of the new company will target not only at the Chinese market, but also global market.
The main objectives of establishing the new company in China, the largest mobile market and manufacturing site of mobile handsets in the world, are to promote NEC and MCI, to build a pool of high quality local engineers, to gather information on a global basis and to strengthen the relationship with China's major communication carriers.
Huawei's knowledge and experience of the Chinese mobile operations coupled with its current 3G research and development, will enhance the technical expertise on handset/infrastructure interoperability. This will serve as a firm foundation for Cosmobic to provide custom-made solutions to mobile operators and subscribers.
News 
Market Data 
Discover 
