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Article: CYIT establishes JV to develop TD-SCDMA business.

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China Business News
Article date:
September 1, 2008
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CYIT establishes JV to develop TD-SCDMA business

Shanghai. September 1. INTERFAX-CHINA - Chongqing Chongyou Information Technology (Group) Co. Ltd. (CYIT) announced on Aug. 29 that it has established a joint venture with two state-owned investment firms to develop and commercialize TD-SCDMA mobile phone baseband chips and solutions.

"According to the agreement with the two state-owned firms, CYIT will contribute TD-SCDMA technology valued at RMB 160 million ($23.4 million), and will own a 50 percent stake in the JV," Huang Ping, the manager of CYIT's commerce department, told Interfax.

"Chongqing Science Venture Capital Co. Ltd. (CQSVC) and ...

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