Fujitsu, Toshiba agree on handset JV

Thursday 17 June 2010 | 04:59 CET | News
Fujitsu and Toshiba have reached an agreement on merging their mobile phone business units. According to the MoU, Toshiba will transfer its mobile phone business to a new company to be established 1 October, and Fujitsu will acquire a majority of the shares in the company. The companies expect to sign a final contract on the deal by the end of July. The merger will create Japan's biggest mobile phone maker, combining Fujitsu's range of phones for NTT DoCoMo and Toshiba's products for KDDI, DoCoMo and Softbank. Toshiba and Fujitsu expect the deal to strengthen their position in developing the next generation of smartphones and also lead to cost savings.

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