Japanese electronics companies Hitachi, Casio and NEC have announced plans to merge their mobile phone expertise to keep costs to a minimum and become more competitive in the market.
The three companies have agreed to share technology and resources in an effort to gain a stronger foothold in the world market, where all three are currently relatively small players.
The merger will create Japan’s second biggest mobile phone manufacturer with NEC owning 71% of the new business, Casio 20% and Hitachi 9%.
All three companies have fared badly during the financial crisis, NEC is in the process of axing 20,000 jobs globally and Hitachi have recently announced that they expect to report a loss of £1.8bn in the end of year accounts.
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