Siemens has big plans for China

From Forbes:

"Siemens AG said it intends to set up more research and development (R&D) offices and search for merger and acquisition (M&A) opportunities in China in a bid to become a leader in China's market for third generation (3G) mobile technology, the China Daily reported."

"Earlier media reports claimed that Siemens may be interested in buying Harbour Networks Ltd, a Chinese networking equipment company.

Siemens has already established a joint venture with Chinese telecom equipment maker, Huawei Technologies, to develop China's homegrown 3G standard, TD-SCDMA.

In the three years following the issuance of 3G licenses in China, 10 bln usd of new purchasing is expected, the paper (China Daily) said without providing the origin of this forecast. Siemens currently holds six to seven pct of the mobile network equipment contracts for China Mobile and 25 to 26 pct of GSM network contracts for China Unicom, the report said, citing research firm Gartner."