Alcatel forges handset joint venture with TCL

26 Apr 2004

Paris-based equipment manufacturer Alcatel has signed a memorandum of understanding (MoU) with TCL Communication Technology Holdings, the proposed holding company for Huizhou TCL Mobile Communication, to form a joint venture operation for R&D, sales and distribution of mobile phones and related products. The new company will be 55% -owned by TCL Mobile and 45% by Alcatel, with the former contributing EUR55 million and the French company EUR45 million.