French telecom major Alcatel has finally decided to exit from the handset business by selling its remaining 45 percent stake.
Talking to Voice&Data, the chief technology officer of Alcatel, Olivier Baujard said "We have decided to exit from the JV with TCL for handset business and concentrate on our carrier and enterprise business."
He also said mobiles phones manufactured by TCL would continue to be sold under the Alcatel brand name.
According to the arrangement, Alcatel will receive about 6.4 million Euros in TCL Communication shares and a discount to the 45 million Euros it paid for its 45% stake in August 2004.
Sudesh Prasad in Paris
Page(s) 1
Print
Comment
Email
Digg
Del.icio.us
Reddit
