(Reuters) — Fujitsu is looking to offload its mobile operations as the Japanese information technology company faces stiff competition from bigger rivals in a highly lucrative mobile phone market, the Nikkei business daily reported.
The company, which spun off its mobile phone operations into a separate company last February, has drawn interest from investment funds including Tokyo-based Polaris Capital Group and Britain’s CVC Capital Partners, as well as Chinese personal computer maker Lenovo Group, the Japanese newspaper added.
First-round bidding could open as soon as September, and is expected to bring offers in the tens of billions of yen (hundreds of millions of dollars), Nikkei reported.
Tokyo-based Fujitsu would stop developing and manufacturing mobile phones, but looks to keep a minority stake in the business and keep its mobile phone brand alive, the report said.
(Reporting by Laharee Chatterjee in Bengaluru; Editing by Stephen Coates)
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more