Japan's NEC Corp, Hitachi Ltd and Casio Computer Co are in talks to merge their struggling mobile phone manufacturing operations to create Japan's No 2 handset maker, the Yomiuri daily reported on Friday.
Loss-making NEC could hive off its mobile operations and merge it with an existing joint venture between Hitachi and Casio to together develop handsets, or the three could merge their mobile phone production operations, the newspaper said without citing sources.
NEC would be likely to hold a majority of the new firm, it said. The three are struggling in Japan's saturated cellphone market and mounting development costs, said to be about 10 billion yen ($107 million) per handset. In the year ended in March, Sharp Corp controlled over one-fifth of Japan's handset market, followed by Panasonic Corp.
Agencies
Showing posts with label operations. Show all posts
Showing posts with label operations. Show all posts
Friday, August 28, 2009
Monday, February 16, 2009
Sun Microsystems to layoff 150 more in India
The global layoffs by tech MNCs have started spilling to their Indian operations. IT giant Sun Microsystems reportedly laid off over 150 employees in India around late in January.
According to a news report in a leading daily, most of the laid off employees were software developers working in the company's Bangalore office.
The news report adds that the company may go for another round of lay offs in the last week of February. This round is likely to impact support staff from departments like marketing, human resources and sales.
In November last year, Sun Microsystems announced that it plans to cut as many as 6,000 jobs as the company tries to cope with plunging sales of server computers to financial firms, market-share losses to bigger competitors, and a spiraling stock price.
The reduction, which will eliminate as much as 18 per cent of the staff, will shave $700 million to $800 million from annual expenses, Sun said in an e-mailed statement.
Last week, a Goldman Sachs analyst put the server and software maker's stock on Goldman's `Americas Conviction Sell' list. Goldman analyst David C Bailey said in a client note that Sun's heavy concentration of financial services, telecom and manufacturing customers put it at a disadvantage to its more-diversified competitors. Bailey said that Goldman expects a low double-digit revenue drop at Sun in 2009 due to weakness in several of the company's key verticals and accelerating deterioration of its Unix server market.
Agencies
According to a news report in a leading daily, most of the laid off employees were software developers working in the company's Bangalore office.
The news report adds that the company may go for another round of lay offs in the last week of February. This round is likely to impact support staff from departments like marketing, human resources and sales.
In November last year, Sun Microsystems announced that it plans to cut as many as 6,000 jobs as the company tries to cope with plunging sales of server computers to financial firms, market-share losses to bigger competitors, and a spiraling stock price.
The reduction, which will eliminate as much as 18 per cent of the staff, will shave $700 million to $800 million from annual expenses, Sun said in an e-mailed statement.
Last week, a Goldman Sachs analyst put the server and software maker's stock on Goldman's `Americas Conviction Sell' list. Goldman analyst David C Bailey said in a client note that Sun's heavy concentration of financial services, telecom and manufacturing customers put it at a disadvantage to its more-diversified competitors. Bailey said that Goldman expects a low double-digit revenue drop at Sun in 2009 due to weakness in several of the company's key verticals and accelerating deterioration of its Unix server market.
Agencies
Subscribe to:
Posts (Atom)