Worn down by a brutally competitive local market dominated by cheaper handsets from both domestic and larger foreign manufacturers, Kyocera's throwing in the towel and leaving the Chinese market behind. President Makoto Kawamura revealed that its Chinese phone business, a joint venture with a local manufacturing firm, has lost between ¥700 and ¥800 million (about $6.55 to $7.49 million) every year since its inception in 2001, so it's giving up to concentrate on the Japanese and North American markets along with its shiny new acquisition from Sanyo
. Pulling out ain't cheap, though: the company is ceding 45 percent of its 70 percent joint venture stake back to the manufacturer, the remainder to a Hong Kong-based company, and writing off about ¥850 million ($7.96 million) in debt. Maybe they'd have fared better making fake Touches
? We're just throwing out ideas here.