Japan's Kyocera has announced plans to leave China's thriving mobile handset market because of mounting losses and cheaper producers. Kyocera will dissolve its joint venture with Chinese electronics part maker Zhenhua Science & Technology. The company also recently announced plans to buy Sanyo Electric's mobile phone business. Kyocera aimed to sell high-end phones with cameras and music players, but China's market is flush with lower-priced handsets from Nokia and Motorola.
After posting losses between $6.6 million and $7.5 million in China, Kyocera President Makoto Kawamura said: "We decided there was no prospect for our business in China."
For more on Kyocera's decision:
- read this article from Jongo