In 2011, Renesas Electronics was adversely affected by the 2011 Tōhoku earthquake and tsunami and flooding in Thailand. In December 2010 Renesas Mobile Corporation (RMC) was created by integrating the Mobile Multimedia Business Unit of Renesas with the acquired Nokia Wireless Modem Business Unit. On ApNEC Electronics and Renesas Technology merged, forming Renesas Electronics which became the fourth largest semiconductor company according to iSuppli published data. In April 2009, Renesas Technology and NEC Electronics reached a basic agreement to merge by around April 2010. Renesas Technology was established on April 1, 2003, as a joint venture of Hitachi, Ltd. NEC Electronics was established in November 2002 by a spin-off of the semiconductor operations of NEC. Renesas Electronics started operation in April 2010, through the integration of NEC Electronics Corporation and Renesas Technology Corporation. "Renesas" is an invented name and a contraction of RENaissance SEmiconductor for Advanced Solutions.
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