Mitsubishi exits mobile

Mitsubishi is getting out of the phone handset business.

The Japanese vendor has seen its unit sales plummet is a fiercely competitive and saturated domestic market. It expects its sales in the current fiscal year to hit 2.1 million handsets. The overall market shifts about 50 million handsets a year.

The move comes weeks after Sanyo decided to sell its mobile handset production operations to rival Kyocera.