Sagem Mobiles end joint venture
Below is a MRR and PLR article in category Business -> subcategory Other.
Sagem Mobiles Concludes Joint Venture with Ningbo Bird
Summary:
Sagem Mobiles and Ningbo Bird have decided to end their six-year collaboration aimed at capturing the mobile phone market in China and beyond.
Keywords:
Sagem Mobiles, Sagem phones, Ningbo, Bird
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Article:
As of March 3, 2008, [Sagem Mobiles](http://www.sagem-phones.com), a division of the French company Safran, announced the termination of its handset joint venture with China-based Ningbo Bird.
This collaboration, initiated in 2002, is being dissolved due to sluggish sales in both domestic and international markets. While exact financial details remain undisclosed, Ningbo Bird's 50% stake in the venture with Sagem Mobiles is expected to be valued at approximately 159 million yuan, or $22 million USD.
In 2007, both companies were excluded from Gartner's Top Ten Handset Makers list, highlighting the challenges they faced in the competitive mobile industry.
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