Part one of a tactical withdrawal?
By Graham Hayday, 17 May 2002 08:25
NEWS NEC is to turn its $5bn semiconductor business into an independent subsidiary in an attempt to protect itself from the volatile chip market. The unit, which has 25,000 employees and generated E5.6bn (£4bn) in its latest financial year, will be spun out in November. The move is being seen by some as a precursor to a complete exit from the chip business, according to the Wall Street Journal.
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