November 27, 2001 in Social Responsibility News

SAMSUNG Electronics, Shanghai Bell to Form CDMA system Joint Venture

SEOUL, Korea # Nov 27, 2001 # Samsung Electronics is stepping up efforts to expand its presence in the Chinese mobile communications market. Samsung and Shanghai Bell Co. have obtained official government approval to establish a CDMA system joint venture in China.

The joint venture company name will be Shanghai Bell Samsung Mobile Communications Co., Ltd. And the ownership will be 51:49 with Shanghai Bell and Samsung Electronics respectively. Initial paid-in capital will be US$12 million, while a total of US$29 million will be invested for development, production and marketing for CDMA system.

By establishing a local joint venture, Samsung Electronics will enhance its efficiency in importing to and exporting from China. On the other hand, the joint venture is expected to contribute to Chinese regional governments’ CDMA-related projects.

A Samsung Electronics official says, “This joint venture will be serve as a vital base of operations in the Chinese communications industry. The company, which will develop, produce and market CDMA systems, will enable
us to respond immediately to the needs of local operators. We will also be in a position to respond immediately to this rapidly changing market.”

China Unicom is scheduled to open a second tender next year for CDMA equipment. By establishing this local joint venture, Samsung Electronics will be in a more favorable position to win new orders in the CDMA mobile communications system market, which is expected to accommodate 70 million subscribers within the next five years.

Shanghai Bell was established in 1984 and currently employees 4,800 persons. The communications equipment maker holds the top share of the Chinese market for fully electronic wireline/wireless switching systems and ISDN terminals. Sales last year came to US$800 million.


[About Samsung Electronics]

Samsung Electronics Co. Ltd. is a global leader in semiconductors, the consumer electronics industry, and digital convergence technology. Samsung employs approximately 66,000 people in 46 countries. The company is the world’s largest producer of memory chips, TFT-LCDs, CDMA mobile phones and monitors and the fifth-largest manufacturer of mobile phones. Samsung Electronics consists of four main business units: Digital Media, Semiconductor, Information & Communications, and Home Appliance Businesses. For more information, please visit http://www.samsungelectronics.com

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