 As a result of the failed joint venture, Philips announced the closure of one-quarter of the company's 230 factories worldwide, and Lucent closed down its wireless handset portion of the venture.Analysts suggested that the joint venture's failure was due to a combination of technology and management problems.Upon the end of the joint venture, PCC sent 5,000 employees back to Philips, many of which were laid off, and 8,400 employees back to Lucent.