Merger gives birth to Fujitsu Toshiba Mobile Communications Ltd

Fujitsu Ltd and Toshiba Corp. completed the merger of their mobile phone businesses. The companies signed a memorandum of understanding wherein Toshiba transfers its mobile phone operations to a new company, and Fujitsu acquires shares in the new company, which will then operate under Fujitsu management.

The new entity, Fujitsu Toshiba Mobile Communications Ltd, assimilates the respective mobile phone know-how and technology of both companies and will grow by offering consumer products and services. Meanwhile, Fujitsu's current mobile phone operations will continue to operate as a part of Fujitsu Ltd.