Panasonic, Matsushita and NEC to create new handset JV

TOKYO – Three big names in Japanese consumer electronics announced Friday they have set up a new company to develop mobile handsets and a common software and hardware platform. NEC Corporation, Matsushita Electric Industrial and Panasonic Mobile Communications announced today the signing of a memorandum of understanding on the establishment of the company. Through this joint venture, "the three companies intend to reinforce existing collaboration between NEC and Panasonic Mobile. The development of common middleware, applications, and hardware platform will enable the companies to avoid duplication of development efforts, leading to greater efficiency and enhanced development capabilities, and a reduction...