NEC Sells its Consumer PC Business in Europe.Tokyo, Japan, Oct 16, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. Corporation today announced that it had completed the sale of Packard Bell See Packard Bell NEC. B.V. ("PB"), a 100% wholly-owned subsidiary of NEC, to companies controlled by Mr. John Hui, the former owner of e-Machines. PB markets and sells personal computers and digital home entertainment products and services in Europe, the Middle East, Africa and South America. Under the highly reputable Packard Bell brand, PB carries out extensive business in Europe, the Middle East, Africa, and South America focused on the sale of consumer PCs. It has also been extending its business domain to digital home electronics, such as MP3 and DVD players, as well as GPS, continuing to grow as a consumer electronics enterprise. In 2005, NEC transferred Packard Bell's (formerly known as NEC Computers International B.V. ("NECCI NECCI Network of Educators of Children with Cochlear Implants ")) enterprise solutions and products business to NEC Computers SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. in order to focus on the distinct enterprise businesses previously conducted by NECCI. NEC Computers SAS carries out PC and server business in the enterprise market under the NEC brand, as an important arm of NEC's IT platform business in Europe. In light of, among other things, the focus on these separate businesses, NEC decided it would be in the best interests of both PB and NEC to sell Packard Bell to Mr. Hui, who has extensive experience in the consumer personal computer business and is well positioned to facilitate the future growth of Packard Bell's business. About NEC Corporation NEC Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 6701; NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : NIPNY) is one of the world's leading providers of Internet, broadband network and enterprise business solutions dedicated to meeting the specialized needs of its diverse and global base of customers. NEC delivers tailored solutions in the key fields of computer, networking and electron devices, by integrating its technical strengths in IT and Networks, and by providing advanced semiconductor solutions through NEC Electronics Corporation. The NEC Group employs more than 150,000 people worldwide and had net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of approximately 4,825 billion yen (approx. $41.2 billion) in the fiscal year ended March 2006. For additional information, please visit the NEC home page at: http://www.nec.com or the newsroom at: http://www.nec.co.jp/press/en/ Source: NEC Corporation Contact: NEC Europe, Ltd. Chris Shimizu Tel: +44-20-8752-2794 E-mail: chris.shimizu@uk.neceur.com NEC Corporation Diane Foley Tel: +81-3-3798-6511 E-mail: d-foley@ax.jp.nec.com Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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