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Matsushita, NEC to brief on joint mobile-phone venture

Matsushita Electric Industrial and NEC said they will jointly hold a briefing in Japan on Thursday about a tie-up in the mobile phone business.

Matsushita Electric Industrial and NEC said they will jointly hold a briefing in Japan on Thursday about a tie-up in the mobile phone business. Matsushita President Fumio Ohtsubo and NEC President Kaoru Yano will attend the news conference. NEC, Matsushita and chipmaker Texas Instruments have been in talks over possible cooperation in third-generation (3G) mobile phones based on W-CDMA technology. A source close to the talks has said the companies and Matsushita and NEC's cell phone units aimed to set up a joint venture to develop microchips and software used in the phones. NEC and Matsushita are two of the first companies to offer 3G phones based on the W-CDMA format, but they each hold only a few percent of the global market, putting them far behind industry leaders such as Nokia and Motorola.