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TOKYO (Thomson Financial) - Japanese electronics giant Mitsubishi Electric Corp has decided to withdraw from the cellular phone business, even cancelling models it was scheduled to supply this spring to NTT DoCoMo Inc, the Nikkei reported on Monday, without citing sources.
Mitsubishi Electric's cell phone sales come to more than 100 billion yen annually, but the business has been unprofitable, the business newspaper said.
The company is expected to announce its withdrawal from the cellular phone business as early as today.
Mitsubishi Electric initially expected to ship a total of 3.2 million handsets in the current fiscal year ending March 31, but downgraded that figure to 2.1 million units early last month, the report said.
Some 600 employees currently working in cellular phone-related operations are to be transferred to other divisions.
(1 US dollar = 103.77 yen)
yasuhiko.seki@thomson.com - yas/ng COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News."
http://www.sharewatch.com/story.php?storynumber=225017
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Posted: 2008-03-03 04:10:56
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