ICT systems integrator HCL Infosystems today announced setting up a joint venture with Nokia Corporation to sell mobile value added services and entertainment content directly to consumers.

In a filing to Bombay Stock Exchange (BSE), HCL said that the joint venture is subject to customary regulatory approval and it expects the joint venture to take off later this year.

Nokia has announced its internet services strategy globally under the consumer brand name Ovi.

In the third quarter result, HCL Infosystems registered a fall of 32 per cent on a year on year basis in profit after tax (PAT). PAT stood at Rs 55.25 crore for the quarter while in the year ago period, it was at Rs 81.41 crore.

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