Japan’s Mitsubishi Electric plans to liquidate its European mobile phone subsidiary which is facing fierce competition from indus try leaders like Nokia, Motorola and Samsung.

Japan’s Mitsubishi Electric plans to liquidate its European mobile phone subsidiary which is facing fierce competition from industry leaders like Nokia, Motorola and Samsung. The company does not expect Melco Mobile Communications Europe SA, set up in 2003 to handle R&D in mobile phone operations in Europe, to make profits in the foreseeable future. Mitsubishi Electric expects to have posted a loss of 12 billion yen in its communication business segment, including mobile phone operations, for the year to March 2005 and wants to push the mobile phone business to break even.