Fujitsu to sell mobile phone operations: Nikkei

Reuters News
Posted: Aug 21, 2017 7:27 PM

(Reuters) - Fujitsu Ltd <6702.T> 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 Ltd [CVC.UL], as well as Chinese personal computer maker Lenovo Group Ltd <0992.HK>, 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.

(This story corrects attribution in first paragraph.)

(Reporting by Laharee Chatterjee in Bengaluru; Editing by Stephen Coates)