Ad
Ad
Ad
Ad
Ad
Ad
Electronics Production | October 27, 2010

Renesas Electronics to spin off its Mobile Multimedia SoC Business

Renesas Electronics has decided to spin off, through an absorption-type separation, its Mobile Multimedia SoC Business Division and transfer the business to a new consolidated subsidiary, Renesas Mobile Corporation, effective as of December 1, 2010.
The spin-off of the Mobile Multimedia SoC Business Division will be followed by the purchase of the wireless modem business of Nokia, which is scheduled to be completed on November 30 and its assets of the wireless modem business (approved, purchase in progress) will also be transferred to Renesas Mobile.

As of November 30, 2010, Renesas Electronics will inherit the personnel from Nokia’s wireless modem business located in Finland, India, Britain, Denmark, China, and other countries. New local subsidiaries of Renesas Mobile will be established in Finland, India, and China, and the employees will be transferred to these local subsidiaries. In addition to these regions, Renesas Design France S.A.S, which is currently Renesas Electronics’ SoC design company, also will become a subsidiary of Renesas Mobile. As a result, more than 75% of the 1,800 total employees of Renesas Mobile will be based outside Japan enabling the new company to engage in truly global marketing and design development.

Sales and manufacturing of Renesas Mobile products will be mainly conducted by Renesas Electronics to continuously ensure stable and dependable supply of these products.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Load more news
September 26 2017 2:48 PM V8.7.3-1