We're in talks with about three to four Chinese candidates for a joint venture brokerage, and we should be able to set it up sometime this year.

I'm pleased for the joint venture because I was obviously a part of the organisation,

Initially, we are allocating $6 million from our budget to the joint venture.

When the joint venture was formed in 2003, we had three key objectives: First, to establish a substantial presence in China, the world's fastest growing market; second, to create a resource capable of building enterprise-class, cutting-edge switching and routing products faster than we could deliver on our own; and third, to capitalize on a rapidly growing pool of engineering talent. We are extremely pleased with Huawei-3Com's performance, and its potential for continued growth.

Spinning it off kind of just gives the problems to your shareholders, and a joint venture really doesn't do much for you. The optimal plan would be to sell it and use the cash to reduce debt.

It's just nuts. The idea that someone is just going to switch it off in three or four weeks, even if it's only in the United States, is crazy.