NEC to exit smartphone business after failed deal with Lenovo: Nikkei
The two companies have a partnership in the personal computers business and NEC was in talks with Lenovo for a deal for its smartphones operations since late 2012, the Japanese daily reported.
The Japanese electronics company had offered Lenovo a majority stake in NEC Casio Mobile Communications Ltd, its subsidiary that makes smartphones. Casio Computer Co and Hitachi Ltd are among NEC Casio's current investors.
NEC, once a market leader in the smartphones business in Japan, currently has a market share of about 5 percent, the business daily said.
The Japanese company will now focus on conventional handsets and plans to sell some of its mobile phone-related patents, according to the Nikkei.
NEC will reassign majority of NEC Casio employees to other group firms, the paper said.
NEC to exit smartphone business after failed deal with Lenovo: Nikkei
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