© jakub-krechowicz-dreamstime.com Electronics Production | March 12, 2013
Renesas might sell its Mobile Business
Renesas Electronics Corporation, the Japanese semiconductor company thats been through some hardship as of late – is now considering to sell its mobile business.
Finances have been the villan for Renesas for quite some time now, and with a challenging economy – a loss-making unit is not what the company needs. In a statement, the company writes that even after all the structural reforms, realignment of their business portfolio and layoffs. The company needs to look at further measures to safeguard its competitiveness. The main reason behind this being tougher-than-expected market conditions. The group will now review the scope of its activities in an attempt to refocus its resources on its core business. Which plainly means that the group will explore the possibility to sell its subsidiary, Renesas Mobile Corporation (RMC) – or find alternative business models for RMC. RMC has not lived up to the expectations of the group – a longer and lower than expected return on investment, has led to financial losses over the last two years for RMC and its subsidiaries. The review includes all RMC's business activities in all geographical areas.