Nortel gets China contract; won't bankroll clients
Nortel Networks just picked up $8 million in contracts to provide broadband access and multiservice networks for North China Power Group and regional power companies in the Hubei, Jiangsu, Shandong, Sichuan and Heilongjiang provinces.
The announcement comes as Nortel stated it won't extend credit to European telecoms to get contracts. Earlier this week, Nokia landed a $143.5 million contract with Orange to supply the telecom with a 3G network for its mobile Internet services. The deal included a $213.2 million, three-year bridge financing package to Orange.
The China deal will use Nortel's Passport multiservice switches, including the 15000 VSS and 7480, Nortel announced.
The 15000 VSS is designed to speed new data services, such as ATM, frame relay and IP VPNs. It is intended to meet requirements of any one specific site on a network, allowing service providers to expand switch features as needs change.
The Passport 7480 multiservice switch is designed for service providers, supports ATM, frame relay, IP routing and switching, MPLS, circuit emulation and voice services, the company reports.
In Europe, Nortel's European, Middle East and Africa president talked network contracts with European cellphone groups who may have to depend on vendor financing to pull off their developments. But Nortel said the company would not turn "into a bank" to win the contracts, according to Reuters.