Matsushita, NEC and Huawei announce 3G mobile handset joint venture in China
On June 3, Matsushita, NEC and Huawei announced the establishment of a joint venture, Cosmobic Technology, in Shanghai to expand the 3G mobile handset business of NEC and MCI. The companies own a respective 47%, 47% and 6% of the new venture, which was officially set up on April 27 and is capitalized with US$8 million.
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