Fujitsu and Sumitomo Establish Joint Venture

Fujitsu and Sumitomo Electric Industries will create a joint venture to develop compound semiconductors for use in the telecommunications market and for growth applications such as mobile terminals, digital home appliances as well as enterprise applications, such as wireless local area networks.

Fujitsu Quantum Devices will bring to the new joint venture a broad portfolio of advanced technologies primarily geared toward the telecommunications infrastructure market, including microwave devices and optical communications devices. These will be combined with Sumitomo Electric's strengths in materials technologies. Fujitsu and Sumitomo Electric will each have an equal equity ownership in the joint venture. The new company is expected to be operational by April 2004.
http://www.sei.co.jp/news_e/press/03/03_14.html