Mitsubishi Pulls Out of China
Mitsubishi Soyea Mobile Communication Equipment Co., Ltd. announced the Japanese party would remove the investment and the company would dismiss its branches in Beijing, Shanghai, and Guangzhou. According to the announcement, all the staff of the venture except those at the Hangzhou production base would be dismissed. Mitsubishi Soyea Mobile Communication Equipment was a joint venture between Mitsubishi Electric and Soyea Technology that was controlled by the Japanese company.
As a major business of Mitsubishi Electric, the joint venture was mainly engaged in the research, development, production, sales and after services of Mitsubishi Electric’s mobile phones in the Chinese market.
“Mitsubishi had no advantages of communication systems or terminals, so it was a correct choice to withdraw when there was no profit” said Shu Huaying, a professor at Beijing University of Posts and Telecommunications. Continue