NEC to exit smartphone business after failed deal with Lenovo: Nikkei

(Reuters) - Japan's NEC Corp plans to exit its loss-making smartphone business after a deal with Chinese PC maker Lenovo Group Ltd failed to materialize, the Nikkei reported. The two companies have a partnership in the personal computers business and NEC was in talks with Lenovo for a deal for its smartphones operations since late 2012, the Japanese daily reported. The Japanese electronics company had offered Lenovo a majority stake in NEC Casio Mobile Communications Ltd, its subsidiary that makes smartphones. Casio Computer Co and Hitachi Ltd are among NEC Casio's current investors. ...

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