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Qualcomm and Teleepoch Enter Into a 3G CDMA Subscriber Unit License Agreement, October 6, 2007

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MobileOne says Nokia is behind 3G schedule

November 29, 2002

Singapore's second largest mobile operator MobileOne said in its initial public offer (IPO) that Nokia was behind schedule in delivering 3G mobile network. The operator has a SG$200 million (US$113) contract with the Finnish equipment provider to install its 3G network.

M1 deferred payment of a purchase order worth SG$50 million at the end of 2001 because Nokia missed its equipment delivery date on July 31 2002. "Nokia have not met their original schedule and timeline and we are in negotiations with them in relation to this," M1 said.

A spokesman for Nokia said the company had decided to delay the delivery of the software because "fine-tuning and completion took longer than anticipated".

"There are no negotiations regarding the contract. We are discussing with MobileOne about when we will deliver some parts of the network and software."

He went on to say, "…the important message is that we are delivering 3G to our customers this year including MobileOne."

Earlier this week M1 said it would raise SG$790 million from its IPO and aims to sell 600.5 million shares, or about 57% of the company.

 


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