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LGE joins three Chinese firms in making CDMA handset
Posted: 08-Mar-2001 [Source: The Korea Herald]

[Korean company, LGE, is working together with Chinese companies to develop WAP enabled CDMA handsets for the Chinese market.]

"LG Electronics (LGE) said yesterday that it has signed a contract to set up a joint venture with three Chinese companies to develop CDMA (code division multiple access) handsets.

"The three Chinese firms are Langchao Electronic Information Industry Group Corp., Cherry S/W and Yan Tai Development Zone Distribution Center.

"Under the contract, the joint venture named Langchao LG Digital Mobile Communication Technology R&D Center Co., Ltd. will carry out R&D (research and development) into CDMA handsets.

"To be located at Sandong Province, the venture will be capitalized at $2 million. LGE invested in a 49-percent stake, with the remainder of the investment made by the three Chinese partners. LGE and Langchao will hold the venture's managerial rights.

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