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Telecommunications Nokia & Sanyo to combine CDMA handset businesses
Telecommunications Nokia & Sanyo to combine CDMA handset businesses | Nokia & Sanyo to combine CDMA handset businesses |
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| by Stuart Corner | |
| Wednesday, 15 February 2006 | |
  
The new entity will "operate in the spirit of partnership" and have major operations in San Diego, Osaka and Tottori, Japan. Final agreements are expected to be signed in the second quarter of 2006, with the new business expected to commence operations in the third quarter 2006. Nokia says it will contribute "the strength of its world-renowned brand (however there has been no indication of how the joint venture's products will be branded), demand supply expertise, a solid entry-level and mid-range CDMA mobile phones product portfolio and well-established relations with over 60 CDMA carrier customers around the globe. Sanyo claims a leadership position in mid-range and high-end CDMA handsets and strong relationships with CDMA operators in Japan and North America. Olli-Pekka Kallasvuo, president and COO of Nokia said: "We identified this new entity as the best way to create an attractive CDMA phone portfolio for our customers with the widest possible product offering at the high-end, mid-range and entry levels. We estimate that the creation of this separate, associated company will provide Nokia with financial benefits from the start. It also offers both parties timely access to R&D competencies that complement their own internal strategies." |
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