Japanese high-tech makers NEC, Hitachi and Casio Computer said on Sept. 14 that they had agreed to merge their mobile phone businesses to cope with a slump in domestic sales and expand overseas.

Together they would have the second biggest slice of the Japanese mobile telephone handset market, ahead of Panasonic Corp. but behind Sharp Corp., which has a one-quarter share. The joint venture will initially be owned two-thirds by NEC Corp., 17.3% by Casio Computer Co. and 16.7% by Hitachi Ltd...

[Industry Week]