Tag Archives: Presence

Fujitsu in talks to sell mobile phone unit, highlighting fading Japanese presence
January 26, 2018 6:00 am|Comments (0)

(Reuters) – Japan’s Fujitsu Ltd said on Friday it was in talks about selling its mobile phone business to investment fund Polaris Capital Group, becoming the latest Japanese electronics maker to withdraw from the sector.

The sale, if realized, would leave just three Japanese electronics makers – Sony Corp, Sharp Corp and Kyocera Corp – in a global market dominated by Apple Inc, Samsung Electronic Co Ltd and cheaper Chinese rivals.

The potential deal calls for Tokyo-based Polaris Capital to take a majority stake in Fujitsu’s mobile phone unit, which is valued at around 40 billion yen to 50 billion yen ($ 365 million to $ 456 million), a source familiar with the situation said.

The size of the stake is still under negotiation, said the person, who asked not to be identified as the discussions were confidential.

An official agreement is expected by the end of the month, the Nikkei newspaper said.

Polaris will aim to list the business in several years, the Yomiuri newspaper reported.

Fujitsu said in a statement that no decision has been made and a representative declined to comment on how large a stake is being negotiated.

Around the year 2000, there were more than 10 major Japanese handset firms producing traditional flip phones, including NEC Corp and Toshiba Corp.

But most have since withdrawn from the business, caught out by the meteoric rise of Apple and Samsung.

Domestic makers failed to gain a global presence by being overly reliant on the lucrative domestic market, which gave them little incentive to change their Japan-specific mobile phone formats and expand overseas.

The rise of low-cost component producers such as Taiwan’s MediaTek Inc also have made it easier for price-competitive Chinese rivals to enter the market.

Fujitsu, whose shares were up 1.0 percent in a flat broader market, has been unloading other non-core businesses as well.

Last year, Lenovo Group agreed to buy a majority stake in Fujitsu’s personal computer unit for up to $ 269 million in a bid to capture a larger share of a market that is battling weak sales as more people switch to mobile devices.

The Nikkei added that retaining the mobile division’s staff and factories will likely be a condition of the deal. Fujitsu, which wants to focus on its core information technology services business, is also expected to continue operating its Arrows brand under Polaris, the source said.

Fujitsu, which spun off its mobile phone operations into a separate company in 2016, had drawn interest from other investment funds such as Britain’s CVC Capital Partners Ltd and Chinese personal computer maker Lenovo Group Ltd, the Nikkei reported last year.

Reporting by Minami Funakoshi and Junko Fujita in Tokyo, writing by Makiko Yamazaki in Tokyo, with additional reporting by Rushil Dutta in Bengaluru; Editing by Shri Navaratnam and Malcolm Foster

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JD.com widens Southeast Asia presence by investing in Vietnam's Tiki.vn
January 16, 2018 6:00 am|Comments (0)

BEIJING (Reuters) – Chinese online retailer JD.com Inc has made an investment in Vietnamese e-commerce firm Tiki.vn, expanding its Southeast Asia business amid growing competition in the region from Alibaba Group Holding Ltd and Amazon.com Inc.

JD.com co-led the financing with Vietnamese entertainment and social media firm VNG Corp, which is an existing investor, China’s second-biggest e-commerce firm behind Alibaba said in a statement on Tuesday.

The firm did not disclose the size of the funding but said that JD.com will become one of Tiki’s largest shareholders alongside VNG following the deal.

Vietnamese media had reported in November that the round was worth roughly 1 trillion dong ($ 44.04 million). JD.com declined to give a dollar number for the investment, when contacted by Reuters.

“With JD’s expertise in leveraging social media for e-commerce, Tiki.vn’s partnership with VNG in social network and mobile payments is a natural fit,” Winston Cheng, president of JD.com’s international business, said in the statement.

Vietnam is the latest focal point in JD.com’s strategic push into Southeast Asia, where Alibaba and Amazon have also made significant investments in the past year.

JD.com will tap Tiki.vn’s warehousing and delivery system, as well as its technology and payments capabilities.

Tiki.vn and VNG’s tie-up has similarities to the partnership between JD.com Inc and internet giant Tencent Holdings Ltd, which is an investor in JD.com and Asia’s largest tech firm by market cap.

JD.com leverages data and payments from Tencent’s WeChat, China’s most popular social media app, and will seek to build similar capabilities with VNG and Tiki.vn, Cheng told Reuters.

While Southeast Asia’s e-commerce market is still nascent compared to the China‘s, improvement in internet services and an increase in mobile-based payments have attracted large international e-commerce firms to the region.

Alibaba has invested heavily in payment and e-commerce ventures in Thailand, Singapore, Indonesia and Malaysia. U.S. retailer Amazon also launched its subscription-based Prime service in Singapore last month in a bid to challenge Alibaba-backed online retailer Lazada Group in Southeast Asia.

JD.com launched a local online retail business in Indonesia two years ago, and now claims to be the country’ largest retailer by revenue. It also formed a $ 500 million e-commerce venture with Thai retailer Central Group.

Besides VNG, Tiki.vn’s previous investors include Seedcom, Sumitomo Corp and CyberAgent Ventures.

($ 1 = 22,709.0000 dong)

Reporting by Cate Cadell; Editing by Edwina Gibbs and Muralikumar Anantharaman

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BlockApps Expands Ethereum's Presence in China; Announces New Funding and Key Partnerships
September 25, 2016 2:15 am|Comments (0)

Gary Liu, the chief architect and hybrid cloud business director of Alibaba Cloud Computing, mentioned the “strong client demand for Ethereum-based …


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BlockApps Expands Ethereum’s Presence in China; Announces New Funding and Key Partnerships
September 23, 2016 11:45 pm|Comments (0)

Gary Liu, the chief architect and hybrid cloud business director of Alibaba Cloud Computing, mentioned the “strong client demand for Ethereum-based …

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