Shulou(Shulou.com)11/24 Report--

CTOnews.com, May 31 (Xinhua)-- Japanese smartphone maker FCNT issued a statement on May 30 local time, saying that it had submitted a petition to the Tokyo District Court to initiate a civil regeneration procedure, which accepted the application and initiated bankruptcy protection proceedings on the same day.

▲ source FCNT official website, the predecessor of FCNT is the mobile phone division of Fujitsu Co., Ltd. Since 2000, FCNT and its predecessors have been committed to the research and development, sales and operation of social networking services for the elderly. However, due to stagnant sales and fierce competition in the mobile phone terminal market, coupled with the depreciation of the Japanese yen, the lack of global semiconductor supply and other external factors, the company's operating costs continue to rise, resulting in operational difficulties.

Also filing for bankruptcy protection are REINOWA, the parent company of FCNT, and Japan EMSolutions (JEMS), a subsidiary responsible for smartphone manufacturing. All three companies were founded in January 2018, when Fujitsu transferred its mobile terminal business to investment fund Polaris Capital Group.

FCNT's sales for the fiscal year ended March 2022 were about 84.355 billion yen (CTOnews.com Note: currently about 4.277 billion yuan), while JEMS's sales for the fiscal year ended March 2022 were only about 69.553 billion yen (currently about 3.526 billion yuan).

FCNT will stop manufacturing and selling mobile phones immediately after the bankruptcy proceedings begin.

Japanese smartphone makers have generally encountered operational difficulties in recent years, and CTOnews.com reported earlier this month that Kyocera has also announced the end of its consumer-oriented mobile phone business.

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