Nortel to Scrap Joint Venture with Huawei
June 09, 2006
Nortel announced on June 8 that it will quit its joint venture with Chinese Huawei. The Nortel-Huawei joint venture, about which Asia Express reported on February 9, was intended to provide high-speed broadband access equipment. Nortel stated that one of the reasons to end the venture was the fact that the customers it was targeting had already made deals with other suppliers.