NEC Looking to Sell Its Cell Phone Business
NEC is ready to exit the cell phone business. According to sources cited by Reuters, the Japan-based company may divest its cell phone business to Lenovo, with which it already has a business relationship. Lenovo, headquartered in China, has been clear about its ambitions in the mobile phone space, but has yet to field a successful device outside its home market. "Amid the rapidly changing market we are considering a number of ways to bolster the competitiveness of our mobile phone business, but nothing has been decided," said NEC in a statement. The company is also exploring a sale to a firm located in Japan, reports Reuters. NEC's handsets are generally sold only by Japan's mobile network operators, such as NTT DoCoMo and Softbank.
Motorola President Rick Osterloh to Leave Lenovo
Lenovo today said Rick Osterloh will leave the company amid an internal reorganization. Osterloh has headed Motorola's efforts within Lenovo since the Chinese firm acquired Motorola from Google in 2014.
Foxconn Makes a Play for Sharp
Foxconn has offered to buy Sharp for $5.3 billion, reports the Wall Street Journal. Foxconn's offer arrives just as Sharp is weighing a buyout offer from Innovation Network Corporation of Japan.
Lenovo Announces Layoffs, Remains 'Committed' to Motorola
Lenovo today announced a workforce reduction that will see close to 2% of the company's 55,000 employees losing their jobs. Most of the more-than-1,000 cuts impact Lenovo-owned Motorola.
SoftBank Looking to Raise $18B with Wireless Unit IPO
SoftBank Group, the parent company of Sprint, is weighing whether or not to offer shares in its own Japan-based wireless company. Under the direction of CEO Masayoshi Sun, SoftBank has transformed itself in recent years into an investor in technology companies.
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