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Lenovo may buy NEC’s mobile phone unit

Posted: 02 Apr 2013     Print Version  Bookmark and Share

Keywords:mobile phone  personal computer  mobile services 

Japanese IT multinational NEC Corp. is in talks to sell its struggling mobile phone unit to Chinese PC and smartphone maker Lenovo Group Ltd.

The move follows the subsidiary’s sluggish performance amid fierce competition from overseas rivals such as Samsung and Apple.

“Although NEC said its mobile business is an important part of its overall operations, two years of losses have caused the company to shed some assets to bolster profitability,” according to Reuters.

In response to media reports, NEC said in a statement: "Amid the rapidly changing market we are considering a number of ways to bolster the competitiveness of our mobile phone business, but nothing has been decided.”

Lenovo is a partner in NEC’s personal computer venture. After solid growth in China, Lenovo expects to strengthen its position in the global smartphone market.

According to media reports, NEC is also planning to sell off its mobile services subsidiary NEC Mobiling Ltd for Rs.4,046.24 crore-Rs.4,624.28 crore (70-80 billion yen.)

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