Telecom & Wireless

Daxian Telecom Joins Hands With Korea Pantech

Daxian Telecom in Dalian and Korea Pantech have reached an official agreement to establish a new joint venture–Daxian & Pantech–which would be the largest mobile phone research, production and supply base in North China.

The registered capital is US$ 10 million, and total investment in the first phase will be US$ 25 million. Daxian will hold a 70% share of the investment, while Korea Pantech will take the remaining 30%. It is estimated the total production in 2008 will exceed 10 million units, which could meet with the requirement of mobile phone subscribers in China, Korea. It is hoped that sales revenue of Daxian & Pantech could exceed CNY 8 billion after the JV begins production.

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