Saturday, May 12, 2012
Sagem Mobiles end joint venture
As of March 3rd 2008, <a href="http://www.sagem-phones.com">Sagem Mobiles</a>, a division of French based Safran said that it would end their handset joint venture with China based Ningbo Bird.
The manufacturing venture was set up in 2002, whilst the sale was sparked mainly due to sluggish sales from both brands in China and abroad.
No financial details have been release, but it's believed Ningbo's 50% stake with Sagem Mobiles will sell for around 159 million yuan or $22 million USD.
In 2007, Ningbo and Sagem both dropped out of Gartner's list of the Top Ten Handset Makers.