One of Japan’s leading electronic company Fujitsu Ltd seems to be in talks about selling its mobile phone business to Polaris Capital Group, an investment fund.
Withdrawing itself from the electronics market would mean leaving a place vacant in for its contemporaries like Sony Corp, Sharp Corp and Kyocera Corp to fill in.
The deal which is in the process right now indicates that the Polaris group will be going on to take majority stake in Fujitsu’s mobile phone unit, which has a market value of around $365 million to $456 million.
An official statement about this merger can be expected sometime by the end of January 2018. With such reports floating around in the international market, Fujitsu has said that no decision has been made on how large a stake is being negotiated.
This is not the first electronic company which has been resorting to help. Thanks to the rise of Apple and Samsung, many of these makers had to actually shut shop.
Adding to this, the numerous options which the Chinese companies have given to the global consumers have totally eaten into the market which could have proved to be a safe haven for the Japanese sellers.
