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Renesas Electronics puts mobile business up for sale
2013-03-12 10:49:00| Telecompaper Headlines
(Telecompaper) Renesas Electronics announced it is considering selling its mobile modem business, just over two years after buying Nokia's activities in the sector. Despite extensive restructuring already at the Japanese chipmaker, the company said tougher-than-expected market conditions mean it needs to review the scope of its activities further and focus more on core business. The mobile business has generated significant losses for the group, showing it has a longer and lower return on investment than expected, Renesas said. The group will look at selling its mobile division RMC or "explore alternative business models" for RMC, it said. The review covers all RMC's mobile business worldwide, with the exception of operations related to car information systems and industrial equipment, which Renesas plans to keep.
Tags: business
sale
mobile
electronics
Category:Telecommunications