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 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