NEC, Hitachi Plans Joint Chip Co.
Nov. 22, 1999
TOKYO (AP) _ Japanese electronics giants NEC Corp. and Hitachi Ltd. plan to merge their semiconductor operations into new company.
The merger plans disclosed Monday will likely give the companies a 25 percent share of the global computer chip market, up from the current combined level of 15 percent, the Nihon Keizai financial daily said.
An NEC spokesman, who only gave his surname Kaede, confirmed the plans but declined to disclose details of the deal.