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Casio, Hitachi to jointly develop mobile phones
Tokyo, Nov 18: Casio Computer Co, a top digital watch maker, and Hitachi , Japan `s biggest electronics conglomerate, said on Tuesday they would jointly develop mobile phones to cut costs and strengthen overseas sales.
Tokyo, Nov 18: Casio Computer Co, a top digital watch maker, and Hitachi , Japan 's biggest electronics conglomerate, said on Tuesday they would jointly develop mobile phones to cut costs and strengthen overseas sales.
The two firms said they would set up a joint venture in April 2004 to take over development, design and procurement from the two firms' cellular phone businesses.
It will be capitalised at three billion yen ($27.6 million) and will be owned 51 per cent by Casio, with Hitachi having the rest.
The move comes as Japan 's mobile phone operators look to third-generation services, which are more suitable for transmitting 'rich content' such as photos and video clips than second-generation services, to fuel profits in a saturated domestic market.
The introduction of photo phones with high resolution pictures has boosted development costs at handset makers.
Bureau Report