Published on : Oct 12, 2015
China Unicom and SK Telecom signed a Memorandum of Understanding. This move is intended to strengthen their position in the telecommunications industry that has tough competition. As these companies join hands they will also promote better growth of the business. The agreement states that China Unicom and SK Telecom will work together to develop and serve the clients with 5G technology, platform, international roaming, and startup support.
This is not only strengthen their competitiveness, but also help them work together thereby brining in better development of their product portfolio. China Unicom and SK Telecom are planning on sharing information and publishing collective studies to promoting standardized and commercialized 5G. These companies will also cooperate for introduce their roaming services that will be far more affordable to travelers.
The two companies will also work towards developing better business strategies for growth and propriety that they can collectively achieve instead of doing it individually. Furthermore, SK Telecom and China Unicom will also exchange information on their platforms with regards to OTT services and platform-related products/services. This kind of a collaboration is expected to help the companies garner better market opportunities. As these companies join hands, SK Telecom will gain a considerable amount of market presence and share in the next-generation telecom market of China.
China Unicom and SK Telecom have also envisioned creating a startup ecosystem. Both the players will share valuable knowhow for fostering and nurturing these startups. SK Telecom and China Unicom will cooperate with one another to think of ideas, incubate them collectively, and go through the whole process of incubation till the time the product or the service reached the market.