New entity to develop and design mobile phones
Fujitsu and Toshiba have completed the merger of their mobile phone businesses to form a new company – Fujitsu Toshiba Mobile Communications.
Fujitsu acquired 80.1% stake in the new company, which will operate under Fujitsu management, and Toshiba has completed the transfer of its mobile phone operations to the new company.
The new entity with a capital of JPY450m combines the respective mobile phone know-how and technology of both companies, and will design, develop, and manage sales of mobile phones.
However, Fujitsu’s current mobile phone operations will continue to operate as a part of Fujitsu Limited.
Earlier, Fujitsu and Toshiba signed a memorandum of understanding (MOU) to merge their mobile phone businesses, followed by a definitive contract in July 2010.