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Nokia, Sanyo Proposed New Company Will Not Proceed
Jun 22, 2006
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Nokia and Sanyo announced that their intention to form a new jointly owned CDMA mobile device company will not proceed and discussions have ended.

Following the initial announcement on Feb. 14, 2006, based on joint negotiations and extensive analysis, Nokia and Sanyo concluded that it is more beneficial to pursue other options individually for their CDMA handset business.

The companies continue to value their long-standing relationship and will leverage this to meet customer and market expectations.

Nokia and Sanyo will announce their future plans for their respective CDMA businesses in due course.

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