TOKYO, March 26 Japan's NEC Corp will
sell its mobile services subsidiary NEC Mobiling Ltd
for 70 to 80 billion yen ($742 million - $848 million), sources
said on Tuesday, as the company sheds non-core assets after two
years of losses.
Marubeni Corp's telecommunications unit and TD
Mobile, a joint venture between Toyota Tsusho Corp and
Denso Corp, are vying for the 51 percent stake and a
buyer may be picked as early as next week, the industry and
financial sources told Reuters.
NEC said it does not comment on speculative reports. The
sources declined to be named due to the confidential nature of
NEC Mobiling runs a chain of mobile phone retail shops for
NTT Docomo Inc. NEC Mobiling shares rose more than 14
percent to close at a record high, while NEC's stock ended 4
NEC Corp, which competes domestically with Fujitsu Ltd
in IT and mobile handsets, plans to cut 10,000 jobs,
mostly from its mobile phone unit which is struggling in the
face of competition from Apple Inc's iPhones and
Samsung Electronics Co Ltd's Galaxy smartphones.
NEC expects to log a full-year operating profit of 100
billion yen ($1.1 billion) in the fiscal year to March.