Sayonara Kyocera: Company Will Withdraw From Chinese Market

January 31, 2008 | Print | Email Email | Comments | Category: Wireless



    Following the withdrawal of such Japanese mobile phone manufacturers as Panasonic, Sony, Mitsubishi, Toshiba and NEC, Japan-based mobile phone maker Kyocera has now announced plans to also withdraw from the Chinese mobile phone market.

    Kyocera will terminate the agreement with its Chinese partner China Zhenhua Technology with whom it set up a JV in China and transfer its stake in the JV to the latter and a Hong Kong company, free of charge, in March. Kyocera will also give up its creditor's right worth about CNY57.6 million.

    As one of the largest CDMA mobile phone manufacturers in the world, Kyocera entered the Chinese market in 2001 and set up Kyocera-Zhenhua Communications Equipment Company with China Zhenhua in which it has invested more than CNY300 million.

    Kyocera will now focus on the North America Market after withdrawing from China.

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