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. Copyright © 2001 Times Internet Limited. All rights reserved.
