Siemens dismisses its Web TV unit in China -paper
SHANGHAI, Nov 24 (Reuters) German industrial conglomerate Siemens AG may withdraw from the Internet TV market in China, a local newspaper reported on Friday.
Siemens has dismissed its team in charge of Internet Protocol Television in China, the Shanghai Securities News said, citing industry sources saying that it was a ''failure'' for Siemens after the company had lost a bid to cooperate in the launch of IPTV services in Shanghai.
The report did not say how many employees worked for the unit. A spokesperson for Siemens in Shanghai could not immediately be reached for comment.
China's largest fixed-line company, China Telecom Corp., and Shanghai Media Group in September launched a joint internet TV service.
Shanghai Media Group is the first company in China to receive a licence from Beijing to run IPTV.
With growth slowing in China's telecoms market -- the world's biggest with more than 360 million fixed-line and more than 430 million mobile users -- China Telecom and rival China Netcom Group Corp. are looking to newer, non-voice services.
Reuters SBA VP0642