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Nokia, Sanyo scrap phone JV scheme

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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. ®

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