TOKYO -- Fujitsu plans to sell its mobile phone division in order to raise cash and focus on its automotive and semiconductor products.

Major OEMs and private equity groups are lining up to make offers, according to published reports. Bidding could start next month.

Potential buyers cited in reports include Polaris Capital Group, CVC Capital Partners, and Lenovo.

Fujitsu has been under increasing pressure from competitors in the consumer electronics, particularly phones and PCs. It spun off those businesses earlier this year.

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