Motorola announced Monday it has secured $394 million in contracts from China's largest mobile carrier, China Mobile, during the first half of 2007, it said. The contracts were for GSM equipment (the prevalent wireless standard in Europe and Asia) including base stations and other infrastructure, which will be used to expand and upgrade China Mobile's network. Approximately 60% of the contracts' revenue was recognized in the first half of 2007. "Today's announcement clearly illustrates Motorola's continued success in the GSM market and its position as one of the leading equipment and services suppliers in China," said Ruey-Bin Kao, president of Motorola China. "Our goal is to continue to provide China Mobile with a state-of-the-art GSM network that enlarges its network coverage, maximizes investment and delivers the best services to its customers."
Sources: Press release, Reuters
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Stocks/ETFs to watch: MOT, CHL
Earnings call transcript: Motorola Q2 2007
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