Reuters: Technology News: Japan's NEC in talks to sell mobile phone unit to Lenovo: source

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Japan's NEC in talks to sell mobile phone unit to Lenovo: source Mar 29th 2013, 05:14 Tweet Share this Email Print Related News T-Mobile USA eyes growth from iPhone, marketing changes Tue, Mar 26 2013 Japan's NEC to sell mobile unit for 70-80 billion yen: sources Tue, Mar 26 2013 Samsung's Galaxy S4 emerges to do battle on Apple's home turf Fri, Mar 15 2013 BlackBerry shares rally on AT&T launch, takeover hopes Mon, Mar 11 2013 Samsung gets a foot in at key Apple supplier Sharp with $110 million investment Wed, Mar 6 2013 Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » A man looks at NEC Corp's computer displayed at an electronics store in Tokyo October 24, 2012. Credit: Reuters/Yuriko Nakao TOKYO | Fri Mar 29, 2013 1:14am EDT TOKYO (Reuters) - Japan's NEC Corp is in talks to sell its struggling mobile phone unit to its personal computer venture partner Lenovo Group Ltd, a source familiar with the discussions said, confirming media reports of the negotiations. NEC is also in talks with potential domestic buyers, the source said on condition that he wasn't identified. NEC has until now said its mobile business is an important part of its overall operations. But after two years of losses the company is shedding assets to bolster profitability. "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," NEC said in a statement through the Tokyo Stock Exchange on Friday in response to the media reports. Lenovo officials could not be immediately reached for comment. Japanese phone makers have struggled to gain traction overseas in markets dominated by Samsung Electronics Co Ltd and Apple Inc where they are also being challenged by upcoming Chinese makers. In Japan, the two foreign giants are whittling down their share of cell phone sales. Last October, NEC cut its mobile phone sales target for the year ending March to 4.3 million from a previous estimate of 5 million units. Lenovo, the world's No.2 maker of PCs, is cranking up overseas expansion in smartphones after solid growth in China. Japan's biggest cell phone maker, Sony Corp, is vying with China's Huawei Technology Co and ZTE Corp to be No.3 in the global smartphone market. NEC also plans to sell its mobile services subsidiary NEC Mobiling Ltd for as much as $850 million, separate sources told Reuters this month. Marubeni Corp's telecommunications unit and TD Mobile, a joint venture between Toyota Tsusho Corp and Denso Corp, are vying for the 51 percent stake, the sources said. (Reporting by Maki Shiraki; Writing by Tim Kelly; Editing by Ryan Woo) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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