Nortel Networks announced Sunday that it has signed a $250 million deal to sell wireless equipment to a carrier in Taiwan. Chunghwa Telecom agreed to buy an assortment of gear that includes wireless infrastructure equipment that will expand its GSM network to 6.5 million subscribers and enable the carrier to offer wireless Internet services.
Nortel announced a similar $250 million deal in September of last year that would expand Chunghwa Telecom's GSM network. The telecom equipment giant has also signed a number of wireless contracts in the Asia-Pacific region, including two deals with China Unicom of the People's Republic of China. Nortel closed a deal in June worth $270 million for wireless equipment in several provinces, and signed a $275 million agreement in May for CDMA (code division multiple access) equipment. In the second quarter, Nortel reported a net loss from continuing operations of $1.55 billion, or 48 cents a share, compared with net earnings of $637 million, or 21 cents a share on a diluted basis, for the same period in 2000.