Reuters: Technology News: Japan's Renesas considering selling loss-making mobile chip unit

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Japan's Renesas considering selling loss-making mobile chip unit Mar 12th 2013, 10:46 Tweet Share this Email Print Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » Japan » Renesas Electronics Corp's chips are pictured at the company's office in Tokyo October 23, 2012. Credit: Reuters/Yuriko Nakao TOKYO | Tue Mar 12, 2013 6:46am EDT TOKYO (Reuters) - Japan's Renesas Electronics Corp will decide in fiscal 2013 whether to sell its loss-making mobile chip business, the company said on Tuesday. Renesas, the world's No. 1 maker of microcontroller chips used in cars, received a $1.8 billion government-led bailout last year. The mobile chip division is part of its wholly owned subsidiary Renesas Mobile. Renesas acquired its mobile chip business from Finland's Nokia in 2010, and said the division has been in the red since then. Renesas said in a statement that it would continue to focus on its semiconductor business for cars and industrial equipment. In February, Renesas cut its earnings forecast for the year to March 2013 to an operating loss of 26 billion yen from a 21 billion yen profit. ($1 = 96.1200 Japanese yen) (Reporting by Mari Saito and Maki Shiraki; editing by Miral Fahmy) 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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