Mitsubishi
Mitsubishi

Mitsubishi

Mitsubishi Exits Mobile Handset Business

The official announcement from Mitsubishi Electric indicating they will exit the mobile handset business just hit the newswire. Noting fierce competition and downtrending market share they are the second Japanese ODM to terminate their manufacturing operations this fiscal year. According to their statement, the company estimates 2.1 million units sold over the year for approx. $1 billion and plans to “maintain and further strengthen the partnership with NTT DoCoMo through the communication related business”, essentially so-called ‘hard iron’ base station network segment.

New JV Announced for WiMax Spectrum

Fresh off the wires from JCN; KDDI, Intel, JR, Kyocera, Daiwa, and the Bank of Tokyo-Mitsubishi have agreed to a new form joint venture, named Wireless Broadband Planning K.K. (WBPK), in order to bid on the 2.5GHz frequency band for Mobile Broadband Wireless Access System. Subsequent to obtaining a license, it will develop and operate a wireless network based on mobile WiMAX technology.

DoCoMo Bringing Chocolate to Japan

DoCoMo introduced their 704i-series of eight 3G FOMA handsets, as mentioned yesterday, featuring a range of models from Fujitsu, NEC, Panasonic, Sharp, Sony Ericsson, Mitsubishi and the LG Chocolate design. The F704i, SO704i, N704iμ and P704iμ will be available this month while the D704i and SH704i will go on sale by the end of August. The P704i will be launched by the end of September and we’ll have to wait for that LG sweetness until sometime in October. Specs and images after the jump.

704i-Series Launch – Live WebCast

DoCoMo has announced they will unveil their next 700i-series line-up of FOMA 3G handset models this afternoon at a press conference to be held at Roppongi Hills Tower starting at 15:00 JST. They will broadcast a live video stream of the proceedings – Here. The on-demand version will also be available to view shortly afterwards Here.

Gemini Mobile Announces New Investors

Gemini Mobile has raised an additional financing round of $5 million from Japan’s ACCESS, Aplix Corp. and Nomura Securities. Previous investor, Mitsubishi-UFJ Capital, also invested in this latest round. The new funding follows the recent $20 million round from Goldman Sachs announced in March. The new financing will be used for general business purposes including continued momentum of Gemini’s international expansion efforts.

New Mobile Net Bank Announced

KDDI and Mitsubishi-Tokyo-UFJ Bank have jointly established the Mobile Net Bank Development Corp. in preparation for the two companies to launch their mobile ‘New Bank’. The entity has since been formalizing the business plan, finalizing products and services, and building the required core systems for the New Bank. Subject to approval from the appropriate authorities, KDDI, Mitsubishi-Tokyo-UFJ, and Mobile Net Bank have now agreed on the line-up of products and services and the commercial time frame for launch, which is scheduled to open midway through this financial year.