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Nokia drops 3G mobile phone venture with Sanyo
Helsinki - Finland's Nokia, the world's largest maker of mobile telephones, said Thursday it would not go ahead with a joint venture with Japan's Sanyo Electric.
The companies announced plans last February to launch a joint venture into 3G CDMA (third-generation code division multiple access) handsets.
The joint firm was to have been based in Japan and San Diego in the United States.
Nokia said in a statement, 'The terms and conditions of the proposed partnership were not satisfactory and in the best interests of Nokia's long-term success.'
The Finnish company said it also aimed to restructure its CDMA business by April next year.
The costs were estimated at 150 million euros (189 million dollars), and would be posted for the third-quarter-2006 report.
Finnish media outlets also quoted Nokia spokeswoman Marianne Holmlund as saying that ongoing patent disputes with US company Qualcomm were part of the decision.
© 2006 dpa - Deutsche Presse-Agentur
[ This Message was edited by: goldenface on 2006-06-22 16:41 ]
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Posted: 2006-06-22 17:39:10
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