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Fujitsu spins off chip division
Posted on 21 Jan 2008 at 09:59
Fujitsu is spinning off its loss-making chip division, as it seeks to pave the way for alliances with other chip makers.
Reports suggest that despite the chip division accounting for around 10% of Fujitsu's profits in recent years, spiralling development costs have caused heavy losses requiring the company to rethink its strategy.
In a statement from Fujitsu, the company says it's resigned to holding onto the division as a wholly owned subsidiary while it seeks out a new buyer.
The new subsidiary will be formed in March, with consolidation of the new company expected to be completed in September with a price tag of around $93 million.
The move follows a wave of consolidation in Japan as major players, including IBM and Samsung, look to reduce the escalating development costs of new technologies including 32nm fabrication.
Author: Stuart Turton
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