BEIJING, China, Sept. 16 --Nortel Networks announced today that it plans to invest $200 million over three years to strengthen its research and development (R&D) capabilities in China. By the end of 2003, the company said it expects to double its number of R&D employees in China.
Nortel also plans to construct a 55,000-square-meter campus in Beijing's Chao Yang District under an agreement with the Beijing city government. The first phase, which will provide 27,000 square meters, is scheduled for completion by late 2004.
"China is extremely important to Nortel Networks, both as a market and as a source for technology talent," said Frank Dunn, president and CEO, Nortel Networks. "With our ongoing emphasis on R&D in China, we are strengthening our presence here to drive the most advanced customer network transformations on a timely basis. We expect to continue to leverage the technology and innovation we develop in China by deploying it in the global marketplace."
The company said its current R&D facilities in Beijing and Guangzhou will continue to play an important role alongside the new campus in developing internet protocol-based voice and multimedia services, third-generation wireless services, next-generation networking and other technology solutions.
For more information, visit: www.nortelnetworks.com