The search for a buyer to take over the Fujitsu mobile phone company has come to an end, as the company is in talks with an investment fund group.
Tokyo based investment fund Polaris Capital Group has reportedly agreed on a deal with the Japanese company, according to Nikkei newspaper. The value of the deal is expected to be somewhere between 40bn and 50bn Yen.
Fujitsu will be the latest Japanese electronics maker to exit the field of mobile phone technology, leaving just Sony, Sharp and Kyocera the remaining companies in the Japanese market.
The sale plans arose after Fujitsu faced tough competition from larger rivals in the mobile phone market, such as Apple and Samsung. The company reportedly said it was selling the mobile phone company element of the business to move focus on its core information technology services business, according to the Nikkei.
The size of the deal Polaris Investment Group will make is still under negotiation, but an official agreement is expected to be revealed by the end of the month.
This article is from the CBROnline archive: some formatting and images may not be present.
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