Biz Brief: Toshiba and Fujitsu Weigh Mobile-Phone Merger

Toshiba (TOSBF) and Fujitsu (FJTSY) are reportedly discussing merging their mobile-phone businesses, a move that would mark yet another cell-phone merger in Japan as the industry there suffers declining sales, according to a Reuters report.

The two companies are considering forming a joint venture that would create Japan's second-largest cell-phone maker and have Fujitsu holding the majority stake, the report noted.

That merger would compete with a three-way joint venture involving NEC (NIPNF), Hitachi (HIT) and Casio Computer (CSIOY), which is scheduled to begin operations this month. Over the past three years, the number of cell-phone makers has dropped to six groups, from 10, as handset sales in Japan plummeted nearly 40% in the past two years.
Read Full Story

Markets

DJIA 24,706.35 336.25 1.38%
NASDAQ 7,157.23 72.77 1.03%
NIKKEI 225 20,719.33 53.26 0.26%
DAX 11,152.05 -53.49 -0.48%
HANG SENG 27,196.54 105.73 0.39%
USD (per EUR) 1.14 0.00 0.00%
JPY (per USD) 109.63 -0.03 -0.02%
GBP (per USD) 1.29 0.00 0.17%
USD (per CHF) 1.00 0.00 0.20%