We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Siemens to kill Fujitsu Siemens joint venture

WSJ: Partner wants out of 9 year-old business

The Wall Street Journal claims Siemens wants to end its nine year-old PC joint venture with Fujitsu.

A Fujitsu spokesman in Tokyo confirmed that the two companies are in discussions over the future of the 50:50 Fujitsu Siemens Computers joint venture, but said nothing has been decided to date. Siemens could not immediately be reached for comment.

The original agreement between the two companies is due to expire in 2009. If either party decides to exit the venture, the other party has the right to buy its shares, but in the current market, where price competition is cut-throat, it remains far from clear whether either company will want to invest the money into continuing the company.

The venture was formed on October 1, 1999, after a proposed venture between Siemens and Taiwan's Acer collapsed. Siemens was searching for a partner to enable it to better compete with larger American and Japanese hardware makers.

Fujitsu Siemens operates in 36 countries and employs around 10,500 people. In its last fiscal year it reported revenue of €6.6bn (£5bn) and a pretax profit of €105m.


IDG UK Sites

Best Christmas 2014 UK tech deals, Boxing Day 2014 UK tech deals & January sales 2015 UK tech...

IDG UK Sites

Chromebooks: ready for the prime time (but not for everybody)

IDG UK Sites

Hands-on with Sony's latest smartglasses

IDG UK Sites

Apple TV expert tips: get US Apple TV content, watch Google Play, use multiple Apple IDs and more