Matsushita Comm sets up British unit for 3G

date: 23 March 2001, source by:

Matsushita Communication Industrial Co Ltd (MCI) said on Friday it would turn the research arm of its British subsidiary into a separate company to focus on third-generation (3G) mobile technology.

MCI, which is 56.33 percent-owned by Matsushita Electric, is Japan's biggest maker of cell phones and will be one of the first two companies to deliver the world's first 3G handsets when services begging in Japan at the end of May.

"The development of our overseas business in mobile communications is at the core of our mid-term strategy, and we will continue to strengthen our development, production, and marketing positions in Europe," MCI said in a statement.

The subsidiary, to be called Matsushita Mobile Communications Development of Europe, will be capitalised at 12 million pounds ($17 million) and be 100 percent owned by MCI. It will begin operations from April with 400 employees in Thatcham, Berkshire, Southeast England.