Kyocera Leaving Chinese Cell Phone Market

by Heather McLaughlin

According to reports at Bloomberg, Kyocera is leaving the mobile phone market in China after a joint venture failed to produce strong sales.

The company is handing over 45 percent of its 70 percent stake in Kyocera Zhenhua Communication Equipment Co. at no cost to partner China Zhenhua Science & Technology Co. The remainder of the company will go over to an unnamed cell phone sales firm based in Hong Kong, also for no cost.

The deal is expected to be completed by the end of March.