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Follow UsTOKYO, JAPAN: Toshiba and Fujitsu has announced the merger of the their mobile phone businesses in an attempt to take on domestic market leader Sharp.
Post merger the combined market share of the merged entity will be 18.7 per cent second only to Sharp’s 26.2 per cent. The two firms aim to focus particularly on the smartphone segment.
According to press reports, the merger will be carried in such a way that Toshiba will transfer its mobile phone business to a new company set for launch in October. Fujitsu will acquire majority shares in this new company.
"By combining their mobile phone development know-how and technological strengths, Fujitsu and Toshiba intend on enhancing their handset development capabilities and at the same time improving business efficiency," they said in a joint statement.
The final agreement for the proposed merged is scheduled to be signed in July.