Cell Phones: This Hookup Isn't Ringing Any Bells
It was supposed to be the Dream Team of the cellular industry. Last October, Philips Electronics and Lucent Technologies Inc. created a joint venture that, they promised, would be a new powerhouse in wireless gear. Lucent would combine its technological expertise with Philips' brand name and distribution deals. And Philips Consumer Communications--60% owned by Philips and 40% by Lucent--would challenge the dominant players, Motorola, Nokia, and L.M. Ericsson. "The joint venture gives the new PCC the technology, distribution channels, and brand recognition that no other company in this market can match," crowed the joint venture's CEO, Michael McTighe, as he launched PCC.
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