Nokia, Texas Instruments in China tie-up

["Ulhas Joglekar" <joglekarulhas@xxxxxxxxxxx>]

The Times of India

FRIDAY, MARCH 01, 2002

Nokia, Texas Instruments in China tie-up

REUTERS

BEIJING: Finnish mobile phone giant Nokia, Texas Instruments and 15 other
Chinese and foreign firms said on Thursday that they had formed a company to
develop software, semiconductors and multimedia electronics.

Nokia and Texas Instruments, along with Korea's LG Electronics, would each
hold about a 13.5 per cent stake in the consortium, to be called Commit Inc,
the companies said in a statement.

Commit, which would have an initial investment of 230 million yuan ($28
million), would develop software and design semiconductors for multimedia
electronics products, it said.

At a news conference, one executive declined to give specifics on the
products the consortium would make.

But the statement said: "Functions such as Internet surfing, mobile
communications, mobile offices and video processing will be expected on a
single terminal, such as a PDA (personal digital assistant) or even an MP3
player."

The China Academy of Telecommunications Technology and China PTIC
Information Industry Corp would each own a stake of about 13.5 per cent,
while the remaining shares would be held by seven other Chinese companies
and five other foreign companies, the statement said.

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