China Telecom, Qualcomm Reportedly to Team Up for CDMA Business
May 30, 2008
With negotiations regarding the acquisition of China Unicom yet to be concluded, China Telecom has reportedly signed an MoU (Memorandum of Understanding) with US CDMA (Code Division Multiple Access) solution provider Qualcomm. The two companies have agreed to jointly develop the CDMA mobile phone business - to be acquired from China Unicom - leveraging Qualcomm's expertise in this field, Shanghai Securities News reported.
According to the Shanghai Securities News report, the strategic tie-up between China Telecom and Qualcomm was due to take effect on May 17 following the Chinese government's official announcement for telecom restructuring. However, the schedule was later postponed to the end of May.
Qualcomm has not yet made any comment on the issue, South China Morning Post reported.