Huawei, Chengdu Hi-tech, and others set up TD Tech Holding firm

After a lot of documentation and struggles, Huawei and other Chinese tech makers have set up the all-new TD Tech Holding firm (Chengdu Dingqiao Holdings Co., Ltd.). The information reveals that the firm came into existence on February 29.

Looking into the details, the TD Tech Holding firm is jointly established by three tech giants named Huawei, the Chengdu Hi-Tech Investment Fund Partnership, and the Chengdu Gaotou Electronic Information Industry Group Corporation Limited.

Huawei and its new partners decided to buy 100% equity shares of TD Tech after Nokia pulled out its legs from the joint venture. The latter has sold most of its stakes to other buyers in the market which resulted in a small dispute between two partners.

Thereafter, the State Administration for Market and Regulation finally approved the TD Tech acquisition. Consequently, this approval allowed Huawei and other operators to control the company’s share.

As of now, the three partners together have set up the TD Tech firm. The details further reveal that the registered capital is around 1 billion yuan and the official representative of the TD Tech Holding company is Deng Biao.

In terms of the new firm’s business scope, Huawei and other Chinese partners will work on the 5G technology services, phone communication equipment and its sales, IoT technology research and development, software development, as well as wearable smart device sales.

(Source)