NEC, Panasonic and TI Form Handset JV
NEC, NEC Electronics, Matsushita, Panasonic Mobile Communications and Texas Instruments just announced that the five companies have signed an agreement to establish a new joint venture company. The company will conduct global development, design, and technology licensing for a hardware and software communications platform to manage the core communications functions for 3G handsets. The new company, Adcore-Tech Co., Ltd (“Adcore-Tech”), is scheduled to be established in August, 2006 at the Yokosuka Research Park in Yokosuka, Japan, with approximately 180 employees.
(As we stated on Tuesday this week: “expect a formal announcement in the coming days.” — Eds.)