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Article: SHRINKING SALES SPUR NEC, CASIO, HITACHI TO MERGE CELL PHONE OPS.
- Article from:
- AsiaPulse News
- Article date:
- September 15, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO, Sept 15 Asia Pulse - Faced with Japan's sagging domestic market, NEC Corp. (TSE:6701), Casio Computer Co. (TSE:6952) and Hitachi Ltd. (TSE:6501) will combine their cellular phone businesses to pool expertise and strengthen overseas sales.
Under the framework announced Monday, the integration will begin with NEC setting up a wholly owned subsidiary by year's end and merging it with its cell phone business in April. This unit will then absorb Casio Hitachi Mobile Communications Co., a joint venture of Casio and Hitachi created in 2004.
The resulting entity, NEC Casio Mobile Communications Ltd., is then scheduled to increase its capital to 5 billion ...