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Fujitsu buys out Toshiba phone stake
03 April 2012
Fujitsu acquires Toshiba’s remaining 19.9% stake in mobile phone joint venture
Japanese ICT firm Fujitsu has acquired Toshiba’s 19.9% stake in their mobile phone-making joint venture Fujitsu Toshiba Mobile Communications, thereby making the venture a wholly-owned subsidiary of Fujitsu.
The unit — which makes and sells phones for operators such as KDDI — will be renamed Fujitsu Mobile Communications. The company, which employs 300 people, will continue to focus on design, development and sales of mobile phones.
Fujitsu Toshiba Mobile Communications was formed in 2010, with the two firms aiming to compete with Sharp in the Japanese market. Fujitsu increased its stake in the joint venture to 80.1% in October 2010, making it a consolidated subsidiary. GTB
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