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February 02, 2006
Nortel and Chinese competitor Huawei join forces on broadband venture
TORONTO (CP) - Nortel Networks Corp. (TSX:NT) is joining hands with major Chinese competitor Huawei Technologies Co. Ltd. in a global partnership to develop "ultra" broadband projects.
The telecom giant said Wednesday that it and Shenzhen-based Huawei have entered into supply agreement allowing Nortel to "immediately begin engaging customers with Huawei's current industry-leading broadband access portfolio."
Huawei has in the past been seen as a growing threat to Nortel and other big established telecom equipment suppliers as it gains worldwide market share and expands throughout Asia.
Posted by admin at February 2, 2006 01:11 PM