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Sitronics executive reveals JV plan with ZTE

Posted: 15 Apr 2008 ?? ?Print Version ?Bookmark and Share

Keywords:Sitronics JV? equipment telecom? network 3G?

Sitronics President Sergie Aslanyan has disclosed during a press briefing that the company will ink a formal agreement with ZTE in May for a joint venture between the two firms.

According to a report by chinatechnews.com, Aslanyan remarked during a press conference that there has been developments in their talks with ZTE, and Sitronics would be owning the controlling rights of the JV. Aslanyan also said that Sitronics would also set up a production base in China in the coming eight to nine months and put the base into operation within one year. In addition to producing some telecom equipment, the facility would also manufacturer double-card mobile phones, and all of these products would be sold in China.

Last year, Sitronics' parent company Sistema signed an agreement with ZTE on the establishment of the JV. The agreement states that OAO Mobile TeleSystems, a mobile subsidiary of Sistema, would cooperate with ZTE on 3G network in regions outside of Russia, while its fixed network affiliate OAO Comstar United TeleSystems would purchase all the equipment it needed from ZTE.





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