3Com and Huawei Technologies will form a joint venture (JV) to build enterprise networking equipment, 3Com announced Wednesday. 3Com also reported financial results for its fiscal third quarter, showing a net loss of $79.2 million, about a third of the loss it reported a year ago.
The new JV will be domiciled in
Huawei, a data networking equipment manufacturer based in
Bruce Claflin, 3Com's president and chief executive officer has been named chairman of the JV, while his opposite number at Huawei, RenZhengfei, will become the JV's CEO.
3Com's statement praised Huawei's "low-cost engineering team in
In a separate statement Wednesday, 3Com gave details of its financial results for its fiscal third quarter. In the three months to
Sales of connectivity products have declined in recent quarters and this trend will continue into the next quarter, the company said.