Fujitsu to sell mobile phone operations, Lenovo among potential buyers

A logo of Fujitsu is pictured at CEATEC (Combined Exhibition of Advanced Technologies) JAPAN 2016 at the Makuhari Messe in Chiba, Japan, October 3, 2016. REUTERS/Toru Hanai/File Photo

Fujitsu Ltd is looking to offload its mobile operations as the Japanese information technology company faces stiff competition from bigger rivals in a highly lucrative mobile phone market, the Nikkei business daily reported.

The company, which spun off its mobile phone operations into a separate company last February, has drawn interest from investment funds including Tokyo-based Polaris Capital Group and Britain’s CVC Capital Partners Ltd, as well as Chinese personal computer maker Lenovo Group Ltd, the Japanese newspaper added.

First-round bidding could open as soon as September, and is expected to bring offers in the tens of billions of yen (hundreds of millions of dollars), Nikkei reported.

Tokyo-based Fujitsu would stop developing and manufacturing mobile phones, but looks to keep a minority stake in the business and keep its mobile phone brand alive, the report said.

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Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.