Sold to Kyocera
Last modified on Wednesday, 23 January 2008 04:38
Sanyo is to sell its loss making mobile phone operations to Kyocera.
The pair say the deal is worth $374 million, but they have yet to agree on a final transaction price. Sanyo started making mobile phones in 1994 and in its heyday supplied a large number of telecommunications companies.
However, it faced intensified competition from rival companies and could not keep up. More than 2,000 employees in Sanyo's mobile phone operation will be transferred to Kyocera, which will continue to use the Sanyo brand on handsets at home and overseas.