TOKYO -- NEC, Casio Computer and Hitachi will merge their cellphone handset-manufacturing operations by next April, the companies said today.

Initially, NEC will own two-thirds of the new JV, while Casio and Hitachi will own 17.3% and 16.7%, respectively. By next June, NEC's stake will grow to 70.7% and Casio's to 20% while Hitachi's drops to 9.3%. Officially, NEC is joining a Casio-Hitachi JV set up in 2004.

Under the deal, the companies will share technology and resources, they said.

• Prev
• Next