The far-from-detailed press release
PRESS RELEASE
NEC Sells its
Consumer PC Business in Europe
Tokyo, London, October 16, 2006 --- NEC Corporation ("NEC") today announced that it had completed the sale of Packard Bell 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")) enterprise solutions and products business to NEC Computers SAS 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 (NASDAQ: 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 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.
Tokyo, London, October 16, 2006 --- NEC Corporation ("NEC") today announced that it had completed the sale of Packard Bell 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")) enterprise solutions and products business to NEC Computers SAS 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 (NASDAQ: 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 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.
