NEC Corp., Panasonic, and Panasonic Mobile Communications Co. Ltd., a unit of Matsushita, have formed a new company, ESTEEMO Co. Ltd. for the manufacture of mobile handsets. ESTEEMO was established based on an agreement signed by the three companies on July 27, 2006, and will carry out the development of mobile handsets, including the development of a common software and hardware platform.
The company will be headquartered at Tsuzuki ku, Yokohama City, Kanagawa Prefecture, Japan, with a branch office at Nakahara ku, Kawasaki City, Kanagawa Prefecture, Japan. The company will begin operations on November 6, 2006.
ESTEEMO, which has a capital of 100 million yen, will develop a common hardware and software platform for mobile handsets as well as jointly develop mobile handsets. The company will be jointly owned by NEC and Panasonic Mobile Communications, with each company having a 50% stake and investing 50 million yen.
The new company will have around 130 employees. Management for ESTEEMO is yet to be decided (President, Vice president, and 2 board members). At the time of establishment, the president will be appointed from NEC and the vice president from Panasonic Mobile Communications. Continue >>