A senior executive at Chinese vendor ZTE has said that it will bid for the LTE patents held by the bankrupt Canadian equipment supplier Nortel Networks, according to a Reuters report.
ZTE’s intellectual property director Wang Haibo reportedly said that…
A senior executive at Chinese vendor ZTE has said that it will bid for the LTE patents held by the bankrupt Canadian equipment supplier Nortel Networks, according to a Reuters report.
ZTE’s intellectual property director Wang Haibo reportedly said that there were some patents that the company wanted, including some that involve LTE.
ZTE also reportedly said that the auction is at an early stage and will not be completed before July.
TelecomFinance reported in July 2010 that Nortel had 4,500 patents and approximately 1,000 patents pending. Industry analysts reportedly said that Nortel could get US$1.1bn if it sold all these patents together.
Nortel first filed for Chapter 11 protection in January 2009. It announced in June 2009 that it was no longer planning to leave bankruptcy protection and began selling its assets.
It announced in December 2010 that it was selling “substantially all of the assets” of Guangdong Nortel Telecommunication Equipment (GDNT), a JV in which Nortel Networks and Nortel China held a 62% stake, to the Swedish vendor Ericsson.
