Fujitsu sells its smartphone business unit

Japanese company Fujitsu Ltd intends to sell its unit engaged in the production of smartphones. AND   buyer already exists   Is the investment fund of Polaris Capital Group.

What is known

AT   The company has not yet   say about   final decision, but   It is expected that the signing of documents will take place in   end of the month. Reuters sources report that Fujitsu will sell a controlling stake in   mobile business with   condition that Polaris Capital Group will retain enterprises and   employees. Also, the company expects to continue the release of smartphones under the brand name Arrows.

Question price

It is not yet known which share will be received by the buyer, but   this transaction will cost based in   Tokyo Foundation in   $ 365 - $ 455   million. Business was also bought by CVC Capital Partners and   Lenovo Group. The latter, by the way, in   last year acquired   Fujitsu controlling block of shares in the unit for   release of personal computers for   $ 269   million

Why sell

The mobile business of Fujitsu became a separate subsidiary only in   2016 year. Apparently, the Japanese manufacturer of smartphones is not   was able to compete with   giants of Apple and   Samsung Electronics and   Chinese companies offering more affordable devices.

Such a fate befell and   Other " countrymen " who do not   were able to compete with   competitors. Now, in addition to Fujitsu, in   Japan remained only three manufacturers of smartphones: Sony, Sharp and   Kyocera.

Source: Reuters