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Nokia retrenching Thomson buys Nokia's China set-tops

French electronics maker Thomson will buy out most of the stake held by Nokia, in a joint venture making set-top TV boxes for the China market. The deal is expected to close in September. The venture's name will change to Thomson/Citic Digital Technology from its current name, Nokia/Citic Digital Technology, Thomson said in a statement. The announcement comes two months after Motorola said it would spend up to USD 33 million to take as much as a 30 percent stake in DVN Holdings Ltd., a Hong Kong-listed company making set-top boxes for the China cable TV market.

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