NEC, Panasonic to Form Joint Venture

Japan’s Matsushita Electric (Panasonic) is said to be considering forming a joint venture in the mobile-phone sector with NEC Corp. A Matsushita spokesman contacted by Reuters apparently declined to comment further. This handset vendor consolidation story has been brewing for some time now. Based on the tone of local reports, we expect a formal announcement in the coming days.

The Nihon Keizai business daily reported the two companies will form a new venture in October to jointly develop mobile phone software. Via: Reuters