Siemens plugs $1.5bn into Asian mobile network

NEWS German firm Siemens has invested $1.5bn in the Asian mobile phone market to build up its presence in Asia's GSM network. The company will work with the China Academy of Telecommunication Technology (CATT) to develop the TD-SCDMA communication standard. Rudi Lanprecht, president of Siemens Information and Communication Mobile Group (ICM), said the increase of volume sales in the Asian market was a "top priority" for the company. Siemens currently holds eight per cent of the Asian mobile market and accounts for 40 per cent of Siemens' GSM infrastructure sales. He said Siemens would continue to grow through acquisitions "whenever we are unable to achieve the necessary growth from within" or through alliances. Siemens already has regional partnerships with China.com and Shanghai Online and globally with Yahoo, Microsoft, Casio, NECand MTV.