AFK Sistema plans to set up a microelectronics joint venture in China, Sistema president Mikhail Shamolin told journalists Thursday.
“We are working and looking at creation of a joint venture with leading Chinese manufacturers of telecommunications equipment and a host of other companies,” he said.
Sistema is intensively developing its microelectronics business, both RD and manufacturing, he said. “Many businesses in the group intersect with areas that are developing rapidly in China,” Shamolin said. Sistema subsidiaryset up a joint venture with Chinese ZTE, Sitronics-ZTE, in 2008. The Russian company received a 51 percent interest in the venture.