The Japanese high-tech firm plans to use the proceeds to strengthen its core communication infrastructure and system development business.
Though the company secured a net profit in the previous business year for the first time in three years, NEC has judged it necessary to secure funds for its growth and has decided to withdraw from the Internet service, which is losing relevance with its mainstay business, the sources said.
The company is likely to hold several rounds of bidding for potential buyers, NEC and other sources said. The company plans to conduct the first round by the end of this month and narrow down the candidates early next year, they said.
NEC sought to sell its mobile phone business to Chinese computer maker
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