NEC, Casio, Hitachi to Merge Mobile Phone Units
Japan’s NEC, Casio Computer and Hitachi announced plans to merge their mobile phone units and form a joint venture company in April next, in an attempt to cut costs and become more competitive.
The merger of the three companies, which are relatively small players in the mobile phone market, will create Japan’s second largest mobile phone maker after Sharp Corp.
In the new entity, which would be called ‘NEC CASIO Mobile Communications’, NEC would hold 70.7 percent stake, Casio 20 percent and the rest of 9.26 percent stake by Hitachi.
"NEC, Casio and Hitachi will integrate their mobile terminal business in order to strengthen both domestic and international business while increasing competitive strength and capitalising on each company’s brand recognition through achieving synergies in a variety of fields, including sales expansion… by unifying technological assets, know-how and resources," the three companies said in a statement
In 2004, Casio and Hitachi had jointly established Casio Hitachi Mobile Communications (CHMC) as a mobile terminal business company.
All three companies have suffered badly during the slowdown.
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