Nokia Surrenders CDMA in S. Korea

Nokia Corp. (NYSE: NOK) has pulled out of the CDMA handset business in South Korea, according to the Korea Times.

Nokia is closing down its R&D center in Seoul, the paper reports. The center was responsible for adjusting Nokia products for suitability for the local market. The report cites strong competition from domestic handset manufacturers, such as Samsung Electronics Co. Ltd. (Korea: SEC), as part of the reason for the withdrawal.

Nokia's local sales and marketing departments will continue to provide customer service in the region.

— Dan Jones, Senior Editor, Unstrung