Nortel, Motorola to Jointly Market Wireless Systems
Nortel Networks (NT) and Motorola(MOT) said Wednesday they have reached an agreement to jointly market Nortel's wireless Internet infrastructure equipment and Motorola's wireless handsets to wireless system operators.
The pact includes third-generation, or 3G, universal mobile telecommunications system (UMTS) solutions and joint, second-generation global systems for mobile communications (GSM) and general packet radio service (GPRS) solutions. Nortel Networks will also act as a route for Motorola to market its wireless terminals. Shares of Nortel gained 7 cents, or 0.4%, to $18.94, while Motorola fell 43 cents, or 2.4%, to $17.87 in recent New York Stock Exchange trading. Also Wednesday, Motorola said it was laying off 300 employees in its cellular phone unit, two-thirds of them in the Chicago area. The cost cutting move is just the latest round of layoffs and follows the elimination of 2,500 jobs in Illinois last month and more than 2,800 in Florida, Iowa and Ireland in December.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
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