Nokia, Sanyo scrap phone JV scheme
Better off working separately
Nokia and Sanyo have pulled the plug on plans to create a joint venture to manufacture and market mobile phones for CDMA markets. Both companies said they had now called a halt to negotiations made public in February this year.
Neither company detailed the reasons behind the move, simply saying their investigation into the possibilities of forming a third company have revealed they were both better off pursuing the CDMA market individually.
Both firms were quick to stress they are still chums and will continue to co-operate in other areas where they can. They also said they will each shortly announce their own plans for the future of their respective CDMA businesses. ®