Electronics Production | February 14, 2006
Nokia & Sanyo to create Joint Venture
Nokia and Sanyo today announced a preliminary agreement with intent to form a new global company comprised of their respective CDMA mobile phones businesses -separate from the parent companies.
The new entity will operate in the spirit of partnership and have major operations in San Diego, USA as well as Osaka and Tottori, Japan. The relevant assets from both companies will be contributed or made available for the new entity. 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, provided that the due diligence has been completed and all necessary regulatory approvals obtained.
It is expected that the new company will benefit by combining both parties' CDMA businesses to achieve a leading position within the global CDMA mobile phones market. Nokia brings to this resulting entity the strength of its world-renowned brand, 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 has a leadership position in mid-range and high-end CDMA handsets and maintains strong relationships with CDMA operators in Japan and North America.
"Meeting and exceeding our customers' expectations is the key priority that drives Nokia every day," said Olli-Pekka Kallasvuo, President and Chief Operations Officer, Nokia. "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 start. It also offers both parties timely access to R&D competencies that complement their own internal strategies."
SANYO's President, Toshimasa Iue said, "In addition to making possible the supply of even better products to our current customers, this new company will also lead to raising our position in the global market." He added, "I am confident that integrating Nokia's strong brand with SANYO's ability to meet the markets needs will lead to the building of a very strong partnership in the CDMA industry."
Continental to develop driverless car technology from new Budapest office
Germany technology company Continental has chosen Hungary to build its newest R&D centre...
Comtech recieves order from satellite antenna manufacturer
Comtech Telecommunications says that during its second quarter of fiscal 2019, its...
POET Technologies to launch design center in Ottawa
POET Technologies has entered into an agreement with MillView Photonics Inc. to establish a...
ZKTeco expands into Georgia
ZKTeco, a global manufacturer of RFID and biometric technology security solutions, is...
KLA completes acquisition of Orbotech
KLA-Tencor Corporation says that the company has completed its acquisition of...
NCAB Group acquires Danish Multiprint
Swedish PCB supplier NCAB Group, has signed an agreement to acquire 100% of...
NAND flash giants suffer revenue loss of 16.8% in 4Q18
The rising economic uncertainties caused some server manufacturers to delay restocking or cancel orders, and compelled those upstream in the supply chain to make adjustments to their production lines, damaging their ability...
Neways passed €500 million in turnover in 2018
The Dutch EMS provider has presented record figures for the full fiscal year of 2018. Not only...
myFC & Krusell to develop a smartphone case with fuel cells
myFC has decided to develop a smart smartphone case with fuel cells. The case will be the...
1,750 more jobs for Intel’s newest Oregon plant
With Intel’s latest phase of its Ronler Acres campus in Hillsboro confirmed by Intel recently, the...
HK Wentworth acquires UK distributor of HAKKO equipment
HK Wentworth Group announces that it is acquiring Dancap Electronics, a UK...
SK Innovation partners with US company to develop lithium metal...
PolyPlus Battery Company, a privately-held company focused on the development of...
Contract prices of DRAM products projected to prop by 15% QoQ in 2Q19
The ongoing oversupply will result in significant price declines for DRAM products during 1H19...
ST Engineering & DSO form JV for new space technologies
The electronics arm of Singapore Technologies Engineering Ltd (ST Engineering)...
Dorigo Breaks Ground on new manufacturing facility
Canadian EMS provider, Dorigo Systems has officially broken ground on its new...
Nortech Systems names Jay D. Miller president and CEO
Nortech Systems has named Jay D. Miller as president and chief executive officer, effective...
Honda to close shop in Swindon - 3'500 jobs at risk
Honda has announced that it will restructure its global manufacturing network. This...
GN Audio picks up Altia Systems, expands UC solutions
In a move designed to integrate GN Audio’s intelligent audio systems with digital video...
Wood cellulose as eco-friendly electronics manufacturing option
Simon Fraser University Professor Woo Soo Kim, along with a research team from Swiss Federal Laboratories for Materials Science and Technology, have reached a breakthrough in the development of an eco-friendly, 3D...
VDMA: Robotics and Automation expects further growth in 2019
In 2018, the German robotics and automation sector reached the 15 billion euro mark for...
Rimac is planning a new factory - appoints new COO
Rimac Automobili has been expanding fast, doubling in size for several years. The company...
Passives drive the German component distribution market
German component distribution market (according to FBDi e.V.) experienced solid growth in 2018. The order situation is slightly weakening. Slow return to normality for passive components.
Related news
Most Read
Load more news
- Engaged & happy employees - clear drivers of growth & health for Season Group
- Shell to acquire german battery manufacturer sonnen
- Electric motor company partners with automotive manufacturer
- Smith Names Sean Evans as Chief Financial Officer
- Astronics completes sale of semiconductor system level test technology