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  • Lucent Announces US$24M Design Center in Qingdao, China
  • November 10, 1998 (BEIJING) -- Lucent Technologies Inc. announced an RMB200 million (US$24 million) design center in Qingdao, Shandong Province.
    It will provide technical support and software development for customers. The center aims to improve the U.S. company's market position.

    China is Lucent's second-largest market, according to Richard McGinn, chairman and CEO of Lucent.

    McGinn said China's move to increase investment in the telecom sector benefits economic growth and is a guarantee of long-term development in the 21st century, the information era.

    He noted that tomorrow's telecom network should be able to transmit rapidly across vast distances, and have the flexibility to add services at any time while keeping costs down.

    China's telecom networks have already taken this into consideration, he added.

    Lucent had US$30 billion in profits last year, and has seven regional offices, six joint ventures and two solely-owned enterprises in China.

    (Xinhua News Agency)

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    Updated: Mon Nov 9 17:05:26 1998 PDT