TOKYO (Reuters) - Japan’s Renesas Electronics Corp will decide in fiscal 2013 whether to sell its loss-making mobile chip business, the company said on Tuesday.
Renesas, the world’s No. 1 maker of microcontroller chips used in cars, received a $1.8 billion government-led bailout last year. The mobile chip division is part of its wholly owned subsidiary Renesas Mobile.
Renesas acquired its mobile chip business from Finland’s Nokia in 2010, and said the division has been in the red since then.
Renesas said in a statement that it would continue to focus on its semiconductor business for cars and industrial equipment. In February, Renesas cut its earnings forecast for the year to March 2013 to an operating loss of 26 billion yen from a 21 billion yen profit. ($1 = 96.1200 Japanese yen)
Reporting by Mari Saito and Maki Shiraki; editing by Miral Fahmy