Wednesday, June 21, 2006

Nokia Scaps CDMA Plans

Nokia and SANYO have scrapped plans for their jointly owned CDMA mobile device company. The companies decided that it is more beneficial to pursue other options individually for their CDMA handset business.

Nokia said that it intends to selectively participate in key CDMA markets, with special focus on North America. Nokia plans to ramp down its own CDMA R&D and manufacturing by April 2007. Nokia is evaluating opportunities to leverage its existing CDMA product development infrastructure and assets in profitable parts of the business.

The company anticipates a restructuring charge of EUR 150 million in the third quarter 2006.

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