Fujitsu acquires Toshiba's stake of their joint mobile business

Fujitsu has acquired Toshiba's stake in Fujitsu Toshiba Mobile Communications Limited, a joint venture which develops and sells mobile phones for Japanese carrier KDDI, among others.

The two companies merged their mobile businesses back in October 2010, with Fujitsu holding an 80.1 percent stake, and Toshiba a 19.9 percent stake.

Two become one

Fujitsu has now acquired that 19.9 percent, and as such, the company is now a wholly owned subsidiary of Fujitsu, and has been renamed Fujitsu Mobile Communications Limited.

This news follows February's announcement that Fujitsu is planning to launch a range of smartphones and tablets in Europe, with the bold aim of capturing a 'double-digit' market share within the next three to five years.

[source: Fujitsu]