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China venture developed
STAFF WRITER
Tuesday, Jun 04, 2002, Page 21
NEC Corp and Matsushita Communication Industrial Co, Japan's biggest and second-largest mobile-phone makers, are forming a venture with Huawei Technologies Co to develop third-generation mobile phones in China. NEC and Matsushita will each own 47 percent of the Shanghai-based venture, Cosmobic Technology Co, while Huawei, China's biggest phone equipment maker, will have a 6 percent stake, the two Japanese companies said in a statement.
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