Sanyo Nokia Deal Called Off
Sanyo Electric has given up potentially lucrative plans announced in February to tie up on mobile handsets with Finnish giant Nokia as the firms had failed to reach a compromise. “The plan of setting up a joint venture with Nokia in CDMA mobile handsets is over, as both sides saw difficulty making concessions in sharing patent rights and other company assets,” Sanyo Electric spokesman Akihiro Oiwa said Thursday. The plan was one pillar of Sanyo’s restructuring efforts.