AsiaInfo and Ericsson -- China -- Sign Memorandum of Understanding on Strategic Co-Operation.Business Editors/High-Tech Writers BEIJING & SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--June 18, 2003 AsiaInfo Holdings, Inc. (Nasdaq:ASIA Asia (ā`zhə), the world's largest continent, 17,139,000 sq mi (44,390,000 sq km), with about 3.3 billion people, nearly three fifths of the world's total population. ), a leading provider of telecom network and software solutions in China, today announced that it has signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MoU) with Ericsson (China) on future strategic co-operation. The MoU expands upon earlier successful cooperation between the two companies. The MoU largely focuses on strategic cooperation in the areas of telecommunications network A telecommunications network is a of telecommunications links and nodes arranged so that messages may be passed from one part of the network to another over multiple links and through various nodes. integration and management software solutions, particularly IP and Mobile Internet Refers to gaining access to the Internet using a lightweight, handheld device. See Mobile IP, PDA, smartphone and mobile TV. (WAP (1) (Wireless Access Point) See access point. (2) (Wireless Application Protocol) A standard for providing cellular phones, pagers and other handheld devices with secure access to e-mail and text-based Web pages. and GPRS (General Packet Radio Service) The first high-speed digital data service provided by cellular carriers that used the GSM technology. GPRS added a packet-switched channel to GSM, which uses dedicated, circuit-switched channels for voice conversations. ) related solutions. AsiaInfo and Ericsson have had effective cooperation since 2000, when China Mobile awarded its first IP backbone project to AsiaInfo as system integrator and to Ericsson as system vendor. "We are very pleased to announce this important MoU which officially outlines the strategic cooperation between our two companies," said Xingsheng Zhang, president and Chief Executive Officer of AsiaInfo. "This MoU combines the strengths of both our organizations, and the synergy created by this cooperation will result in a better-integrated supply chain for our customers and therefore increase their efficiency. We look forward to a long and mutually beneficial relationship for many years to come." About AsiaInfo Holdings, Inc. AsiaInfo Holdings, Inc. (Nasdaq: ASIA) is a leading provider of telecom network and software solutions in China. The company provides high-quality software and solutions to China's telecom carriers, meeting the demanding needs of a fast-growing industry. AsiaInfo's products and services cover network infrastructure services including design, implementation, operation and optimization, customer management and billing solutions; decision support systems; and service applications encompassing messaging, broadband, wireless and other advanced applications. Organized as a Delaware corporation, AsiaInfo has constructed national backbones and provincial access networks for all of China's major national telecom carriers since 1995, including China Telecom, China Mobile, China Unicom and China Netcom. Since 2000, the company has successfully shifted its focus from Internet infrastructure construction to the provision of a full suite of telecom software solutions. For more information about AsiaInfo, please visit http:/www.asiainfo.com. About Ericsson Ericsson has in China 26 offices, 10 joint ventures and four wholly owned companies all over the country, providing total communications solutions and services to the China market. This release contains projections and other forward-looking statements regarding future events and the future financial performance of AsiaInfo that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by AsiaInfo with the SEC, specifically the most recent reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , 10-Q and 8-K, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The financial information contained in this release should be read in conjunction with the consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge and notes thereto included in AsiaInfo's most recent reports on Form 10-K and Form 10-Q Form 10-Q See 10-Q. , each as it may be amended from time to time. Any projections in this release are based on limited information currently available to AsiaInfo, which is subject to change. |
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