Japanese firm looks to raise hundreds of millions of euros from sale of mobile devices business.

Fujitsu is looking to sell its mobile phones business and has attracted the interest of a number of technology and investment firms, including Huawei, it emerged on Tuesday.

The Japanese firm can no longer compete effectively in the mobile devices market, where global heavyweights dominate, Nikkei Asian Review reported. However, its phones business could still raise tens of billions of yen (hundreds of millions of euros), the paper said, without citing any sources.

There are number of possible buyers waiting in the wings, it said. China’s Huawei, a growing force in the smartphone space, is one of those listed, as are its domestic rival Lenovo – which snapped up former U.S. powerhouse Motorola in late 2014 – and Taiwan’s Foxconn.

Polaris Capital Group and CVC Capital Partners have also shown interest, according to the paper.

First round bids are reportedly due next month.

Fujitsu, which spun out its mobile business in February last year and said it would seek a partner for non-core operations, would look to retain its mobile phone brand, Nikkei Asian Review claimed.

It is the fifth largest player in its home market, behind the likes of Apple, which claims a 40% share.