Japan’s NEC in talks to sell mobile phone unit to Lenovo, says source

“Japan’s NEC Corp is in talks to sell its struggling mobile phone unit to its personal computer venture partner Lenovo Group Ltd, a source familiar with the discussions said, confirming media reports of the negotiations,” Reuters reports.

“NEC is also in talks with potential domestic buyers, the source said on condition that he wasn’t identified,” Reuters reports. “NEC has until now said its mobile business is an important part of its overall operations. But after two years of losses the company is shedding assets to bolster profitability.”

Reuters reports, “NEC also plans to sell its mobile services subsidiary NEC Mobiling Ltd for as much as $850 million, separate sources told Reuters this month.”

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