(Reuters) - Nokia (NOK1V.HE), the world's largest mobile phone maker, said on Thursday it had ended talks to form a joint venture with Japan's Sanyo Electric Co. (6764.T) to produce phones using the CDMA standard.
Nokia said it would also pull out of CDMA phone manufacturing, which it sees as a shrinking market in the longer term, though it will continue to offer Nokia branded phones for the North American market, where the standard is popular, reports Trend.
It said it will take a 150 million euro ($190 million) hit in the third quarter from restructuring, and that it expects the planned restructuring of the CDMA business to have a positive effect on its operating margins.