Nokia Will Collaborate With Sanyo To Capture More US Market Share
February 14th, 2006
Cell phone giants Nokia and Sanyo have
today announced that they will team up and collaborate
with each other to capture more marketshare in 3G cell
phones in the US. This will be done by a joint venture
between the two companies. The new venture is expected
to have major operations in Osaka, Japan and San Diego,
USA.
Olli Pekka Kallasvuo, Chief Operations
Officer of Nokia quotes, "Meeting and exceeding our
customers' expectations is the key priority that drives
Nokia every day. 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."
The President of Sanyo, Toshimasa Iue,
quotes "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. 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."
This new joint venture is expected to
take off in the 3rd quarter of 2006. Nokia (worldwide
market share of 34%) will bring its expertise in CMDA
cell phones and market share all around the globe while
Sanyo will supply its good relationships with many carriers
and operators in North America as well as Japan.
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