Fujitsu plans to sell its smartphone division

Fujitsu logo
Fujitsu said that they are in discussions with investment management company, Polaris Capital Group to sell their mobile device division. Fujitsu became the latest Japanese company to decide to withdraw from the smartphone market.

If Fujitsu's mobile device division is over sold, then that means, there are only three electronics companies in Japan - Sony, Sharp and Kyocera are still playing in the global smartphone market dominated by Apple, Samsung and Chinese companies offering products at a price more affordable.

Possibly, Tokyo-based Polaris Capital will buy shares in the mobile smartphone division and become the majority shareholder. Currently, Fujitsu's mobile division is estimated to be priced around JPY40-50 billion, said the person who knows about it.

Unfortunately, the number of shares that will change hands is still being discussed. It is expected that the agreement will be completed by the end of the month, the Nikkei reported.

In an official statement, a spokesman for Fujitsu said that no final decision had been taken and refused to mention the number of shares to be bought.