21 January, 2005: China Putian and Nortel have inked a joint venture frame agreement covering R&D, manufacturing and sales of 3G products and equipment in China. The deal will be finalized by end of June 2005. A new company, named Putian-Nortel Networks Telecommunications Equipment Co., Ltd. – will likely be headquartered in Wuhan, capital of Hubei Province, and will focus on TD-SCDMA (Time Division-Synchronous Code Division Multiple Access) and WCDMA (Wideband CDMA) products and solutions, as well as related network engineering and optimisation services. China Putian will own 51% of the joint venture; Nortel, the remaining 49%.

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