TI, NEC and Matsushita mulling 3G spin-off

Apr 07 2006 - 12:18 AM ET | 3G, Backpage, Rumor

Texas Instruments, NEC and Matsushita are in discussions to merge 3G operations to cut costs. Reuters reports:

A source close to the talks said the five companies are aiming to set up a joint venture to develop microchips and software used in W-CDMA third-generation (3G) mobile phones to cut costs.

The rumors boosted shares of NEC because its cell phone division is currently losing money and would benefit from lower costs.