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
  • DJI25490.47-286.14-1.11%
    NASDAQ7628.28-122.56-1.58%
  • NIKKEI 22521000.81-150.33-0.71%
    Hang Seng27267.13-438.81-1.58%
    DAX11952.41-216.33-1.78%
  • USD (PER EUR)1.12-0.0003-0.02%
    USD (PER CHF)1.00-0.0005-0.05%
    JPY (PER USD)109.680.06900.06%
    GBP (PER USD)1.27-0.0003-0.02%