Casio, Hitachi and NEC Agree to Merge Handset Businesses
Today Casio, Hitachi and NEC announced that the three companies will merge their respective mobile phone businesses into one entity. Casio and Hitachi already have a joint venture in place, and this new deal brings NEC into the fold. NEC will initially own 66% of the joint venture. The three companies believe that by combining their technology and resources, they can better compete in their home market of Japan, as well as abroad. The three companies are targeting April 2010 to complete the merger.