TeleGeography Logo

LG, Nortel to sign joint venture

12 Aug 2005

LG Electronics and Nortel Networks have announced plans to sign a formal agreement to form a telecoms equipment joint venture in South Korea on 18 August. The two companies earlier failed to meet their deadline for an official agreement on the venture; they were scheduled to sign the agreement by the end of June but the timing was delayed after ‘differences in details’ arose.

In a separate story, LG has revealed that it hopes to raise its share in the global handset market from its current 6.4% to 10% by the end of 2006. The company overtook Siemens last year as the third biggest handset maker.

South Korea, LG Uplus

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.

TeleGeography

TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.