Nokia and Sanyo announced on June 22 that they have ceased the pursuit of jointly forming a CDMA handset company as proposed in February 2006. Both parties failed to reach a compromise on the terms and conditions of the partnership, and have decided to pursue other options. Nokia plans to spend some 150 million Euros restructuring its CDMA business and focus on select key markets, especially North America. Sanyo stated that it has not given up seeking possibilities to form business alliances with other partners.