Retail in Asia

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Toshiba exits mobile phone business

Toshiba Corp. has pulled out of the mobile phone business by selling its 19.9 percent stake in Fujitsu Toshiba Mobile Communications Ltd. to Fujitsu Ltd., the two companies said on Monday.

The company, which sells and markets mobile handsets, was originally set up in October 2010 by taking over Toshiba’s mobile phone operations. It has since been renamed Fujitsu Mobile Communications Ltd. and is now under the full control of Fujitsu.