Fujitsu has confirmed reports that it's in talks with Polaris Capital Group on a possible sale of its mobile phone business. The company said no decision had been taken yet on the sale, according Telecompaper. The Nihon Keizai Shimbun and Yomiuri Shimbun reportedly earlier that the company could sell the business for around JPY 50 billion to the investment fund. This would further narrow Fujitsu's focus to the IT services and server market, the paper's sources said.
Fujitsu has been seeking bids for its mobile phone business since last year as part of structural reforms. The company is likely to seal the deal with Polaris by the end of this month, sources told Kyodo news agency. The mobile phone unit would maintain its current head count, production systems and brands.
Fujitsu’s main customer for mobile phones is Japanese operator NTT Docomo. Although the business has seen relatively stable profits, shipments are expected to have fallen below half of their peak to 3.1 million units in fiscal 2017, amid the growing popularity of other brands, such as Apple and Sony, in Japan.
