On Thursday October 13 Nokia announced it has signed an agreement with China Putian to establish a 3G joint venture in Wuhan, China, which will focus on both the WCDMA and the TD-SCDMA standard, engaging in R&D, manufacturing, and marketing of 3G equipment and solutions. The first commercial products are expected to be rolled out in 2006 under Putian's Potevio brand, while Nokia stated it will also market WCDMA products in China under its own brand when the Chinese government will start handing out 3G licenses to operators. The two companies will invest a total of 900 million RMB in the venture, with Putian taking a 51% stake and Nokia a 49% stake.