Wednesday, April 6, 2005
Toshiba withdrew from the cellular handset business in China because of sluggish sales of its video e-mail-equipped phones and other high-end products, the company said.
Toshiba sold its 33 percent stake in a joint venture and a mobile phone production facility to local partner Nanjing Putian Telecommunications Co. earlier this year, a Toshiba spokesman said.
The joint venture started selling high-end cell phones in 2002, but sales lagged as consumers preferred cheaper priced gadgets, the company said.
A report showed that China had 334 million cell phone subscribers by 2004. The government has forecast the figure will rise about 19 percent to top 400 million this year.
By: DocMemory
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