Siemens announces USD110 million R&D investment in Brazil

21 Aug 2003

German equipment manufacturer Siemens [SIEGn.MU] is to plough more than USD110 million into research and development funding for mobile phones in Brazil, underscoring the gains made by GSM technologies in a traditionally CDMA-based Latin American region. Siemens, a leading supplier of GSM handsets and network equipment in Brazil, started local production of handsets in the country in 2000. It recently commenced production of new cordless products and hopes to add local wireless modules by Autumn 2003. The new R&D centre will be the fifth such unit established by the German vendor: it has existing ventures in Germany, Denmark, China and the US. The funding covers the next five years.