Fujitsu & Toshiba Handset Merger
Fujitsu and Toshiba merger rumors, would be #2 domestic player after Sharp, combined resources for emerging markets: http://bit.ly/amwd3G
June 17 — It’s Official..!!
Fujitsu Limited and Toshiba Corporation announced that today they have signed a memorandum of understanding (MOU) to merge their mobile phone businesses. According to the MOU, Toshiba will transfer its mobile phone business to a new company to be established October 1, 2010, and Fujitsu will acquire a majority of the shares in the company.
By merging their mobile phones businesses, Fujitsu and Toshiba are aiming to become the No. 1 provider of mobile phones in Japan. Collaboration in the mobile phone business will allow Fujitsu and Toshiba to strengthen their handset development platforms for the Japanese market and enable the companies to continue to create highly competitive products for their customers. Both Fujitsu and Toshiba are market leaders in designing compact, highly functional handsets. This competitive advantage will be leveraged to develop highly competitive next-generation handsets for the expanding smartphone market. Fujitsu and Toshiba plan to sign a final contract at the end of July 2010.