Mitsubishi Electric says to exit mobile phone ops

Sun Mar 2, 2008 8:43pm EST
 
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TOKYO, March 3 (Reuters) - Japanese electronics conglomerate Mitsubishi Electric Corp (6503.T: Quote, Profile, Research, Stock Buzz) said on Monday that it planned to exit its loss-making mobile phone business.

The company said it expects a one-off pretax loss of about 17 billion yen ($164.1 million) in the current business year ending March 31 due to the withdrawal. (Reporting by Nathan Layne)

 

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