Japanese Companies Form JV in China for 3G Handsets

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Last updated at: (Beijing Time) Monday, June 03, 2002

Japanese Companies Form JV in China for 3G Handsets

Two major Japanese electronics companies said Monday they have established a joint venture in China to expand their third-generation (3G) mobile handset business.

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Two major Japanese electronics companies said Monday they have established a joint venture in China to expand their third-generation (3G) mobile handset business.

Founded on April 27, the Cosmobic Technology Co. is capitalizedat 8 million U.S. dollars, with NEC Corp. and Matsushita Communication Industrial Co. each holding a 47 percent stake, the Japanese companies said in a joint statement.

The remaining 6 percent is owned by Huawei Technologies Co., a major Chinese manufacturer of telephone base stations and other telecommunications infrastructure systems.

Cosmobic will secure licenses related to core communication software technology from NEC and Matsushita and sub-license them to handset and semiconductor manufacturers.

Starting operations at the end of June, Cosmobic will seek to accelerate the penetration of 3G mobile handsets and mobile Internet technologies not only in China but also in the global market.

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