China Mobile Ltd. (0941.HK) is set to unveil a mobile handset made by Nokia Corp. (NOK), the world's largest handset maker by shipments, that runs on the locally developed third-generation mobile technology, China Mobile Chairman and Chief Executive Wang Jianzhou said Tuesday.

Nokia will begin supplying the dual-band handsets, compatible with global system for mobile communications technology and TD-SCDMA "very soon," Wang said on the sidelines of the GSMA Mobile Asia Congress.

In China, Korean electronics manufacturers LG Electronics Inc. (066570.SE) and Samsung Electronics Co. (005930.SE) are the only foreign companies to supply TD- SCDMA handsets.

Wang also reiterated Tuesday that China Mobile, the world's biggest telecom operator by subscribers, is keen on investing overseas and is currently looking at telecom assets in emerging markets including Asia.

"Telecom assets in emerging markets have become very inexpensive," Wang said. "There's no reason for sellers to sell their assets at such a low price. We are trying to find some opportunities like when an operator needs money, maybe."

China Mobile is looking at taking a majority stake or investments with or without management control, said the executive.

Last month, Wang said at the World Economic Forum in Tianjin that China Mobile is interested in expanding primarily in Asia and Africa.

China Mobile plans to invest US$800 million in its wholly owned Pakistan operator CMPak Ltd. this year to improve its network, having invested US$400 million in the company last year for network expansion.

China Mobile bought 100% of the Pakistan operator last year for US$460 million and renamed it Paktel from CMPak Ltd.

Wang also said the global economic slowdown will hurt all of Asia's mobile companies. As people cut back on travel, for instance, operators will receive less in international roaming fees. Similarly as interest in stocks and other investments declines, individuals have less use for mobile data downloads, Wang said.

Wang also told reporters China Mobile is still in talks with Apple Inc. (AAPL) to launch the iPhone, but there is no timetable for when it might be available in China.

Separately, China Unicom (Hong Kong) Ltd. (CHU) Chairman Chang Xiaobing said Tuesday at the conference that restructuring of the nation's telecommunications industry is complete, and he called on Beijing to issue third-generation mobile licenses.

Chang said issuing the 3G licenses would boost China's economy, though he didn't provide specifics.

His comments in Macau came as China is deploying a variety of measures including a major fiscal stimulus to try to maintain economic growth in the face of a global downturn.

Chinese regulators have said in the past they would issue 3G licenses once the industry restructuring is finished, but they didn't provide a timetable.

In May, the Chinese government unveiled a plan to meld six state-owned companies into three carriers offering fixed-line and wireless services nationwide - producing two more robust rivals for China Mobile.

Chang also said the Chinese mobile industry has scope for more tariff cuts but declined to say whether his company would implement tariff cuts.

Source:Dow Jones