NEC, Casio and Hitachi Merger

As noted here last spring, 3 major players in the handset business are finally - officially - coming together under one roof, Eng: http://bit.ly/a8gPzQ

NEC Casio Mobile Communications Ltd., the joint venture to be launched in June by NEC Corp., Casio Computer Co. and Hitachi Ltd, aims to become the dominant player in the domestic mobile phone market in fiscal 2012 while also increasing its presence in promising overseas markets, the company said.

The new company will merge the three firms’ handset manufacturing businesses. It will be a consolidated subsidiary of NEC, which will hold a stake of about 70 percent in the new firm, with Casio holding 20 percent and Hitachi about 9 percent.

The three companies’ respective brands will be retained for the time being. The new firm hopes to capitalize on the firms’ respective expertise in product development. NEC is adept at making thin handsets, Casio is known for its high-precision cameras, and Hitachi is credited for its high-resolution displays.

According to the business strategy, NEC Casio hopes overseas markets will account for 40 percent of its total sales in fiscal 2012. The company plans to focus on boosting sales abroa, especially in North America, where Casio already has made inroads. It will consider entering markets in Europe and Australia. Via: Yomiuri Shimbun