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ITI strengthens CDMA deal with Chinese firm
BANGALORE: An agreement, signed between the two companies here Tuesday, would help the loss-making ITI earn revenues by taking part in the forthcoming tenders from state-run Mahanagar Telephone Nigam Ltd (MTNL) and Bharath Nigam Sanchar Ltd (BSNL).
"We expect to procure most of the tenders planned to be floated by MTNL and BSNL. We would also try to get business from private operators," Y.K. Pandey, the chief managing director of ITI, told a news conference.
Last year, with the same technology, ITI was able to provide 150,000 lines. This year, the company expects to provide 250,000 or more. ITI enjoys a favoured supplier status with both the service providers.
"ITI has a solid foundation for transfer of this technology. And it is very cost effective. We win together. Our company earned revenues of over $2 billion last year.
"We were the only ones in the telecom sector to stand out making money after the tech slowdown," said Joe F. Zhou, vice president, ZTE.
ITI would be making a down payment of $1 million to the Chinese telecom major during the second phase of the transfer of technology and a royalty of five percent on value add.
Source: IANS