Nokia and Sanyo to join their CDMA mobile phones businesses

Nokia and Sanyo revealed their plans to join forces by announcing that they have signed a preliminary agreement for merging their CDMA mobile phones divisions. The two companies intent to form an entirely new entity, which will be a combination of the Nokia's strengths in branding, demand supply expertise, solid entry-level and mid-range phones and Sanyo's leadership position in mid-range and high-end handsets as well as its relationships with CDMA operators in Japan and North America. The final agreement is expected to be signed in the second quarter of 2006, and the new company is planned to start operating in the third quarter of this year.

Source: Sanyo