Honestly, we haven’t heard Mitsubishi was into cellphones, but it apparently is and now it is announcing that it will be exiting soon the industry soon.
The cellphone industry is a strange one. Mitsubishi have been raking in 100 billion yen (about $958M) from handset sales, but the car and engineering giant is not making any money. Apparently, Mitsubishi has been in the cellphone business for 25 years. Their first phones were car phones, which reminds you of another old cellphone company with the same beginnings that is currently in trouble.
The details in brief, in case you’re interested
Summary of Mitsubishi Electric’s Mobile Handset Business
1) Shipment forecast of approximately 2.1 million handsets in fiscal 2008 (April 1, 2007-March 31, 2008).
2) Sales forecast of approximately 100 billion yen in fiscal 2008.
3) Approximately 600 employees, including R&D, manufacturing and sales divisions. These employees are basically to be repositioned mainly in Mitsubishi Electric’s strategic businesses.
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