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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (64247)	6/7/2002 1:58:57 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Mitsubishi Electric Seeks Tie-up on Mobile-Phone Memory Chips By Yoshifumi Takemoto quote.bloomberg.com Tokyo, June 7 (Bloomberg) -- Mitsubishi Electric Corp., Japan's fifth-largest chipmaker, said it is seeking a partner to make chips that store information in cellular phones as it tries to pare losses and win a larger share of the mobile-phone market. Japan's third-biggest mobile-phone maker is in talks with several chipmakers in Japan and overseas, Mitsubishi Electric Executive Vice President Koichi Nagasawa said. He declined to identify the companies involved in the talks. Net losses at Japan's five largest chipmakers totaled $11.6 billion last year, forcing them to consider alliances and joint ventures with healthier rivals to share the cost of production. Makers of flash memory, the type of chip used in phones to retain data such as addresses and phone numbers, include Sharp Corp., STMicroelectronics NV, Fujitsu Ltd. and Intel Corp. ``It's better to find a partner and expand while the flash- memory market is recovering than to do it after it's too late,'' said Hideki Kamiya, who manages 10 billion yen ($80 million) at Asahi Tokyo Investment Trust Management Co. Mitsubishi Electric had a loss of 77.9 billion yen for the year ended March 31, with flash memory accounting for 20 billion yen of the total. Flash-memory prices plunged as much as 70 percent last fiscal year after mobile-phone demand tumbled.