Sanyo plans to unload mobile phone division
By Will Park on Monday, July 30th, 2007 at 1:24 PM PST In Partnerships, Rumors, Sanyo
It looks like Sanyo (OTCPK: SANYY) Electric Co. is wiping its hands clean of the mobile phone game. Sources “close to the matter” are saying that Sanyo is prepping Osaka-based Telecom Sanyo Co. for the auction block – with an expected sale amount in the billions of Yen, a healthy boost to the struggling company’s coffers. The handset manufacturing division will be offloaded as a subsidiary.
With 38.4 billion Yen in revenue last year, the handset manufacturing arm of Sanyo is no slouch. But, fierce competition and 3 years of net losses for Sanyo may have prompted them to get out of the industry. We’re sure someone will be jumping at the opportunity to get in on the mobile phone biz.
Sanyo Electric Co. pans to refocus it’s efforts in its core business of manufacturing rechargeable batteries and commercial-use equipment.
Saya nara, Sanyo, it was fun while it lasted.
[Via: Slashphone]
For god’s sake, it’s “sayonara.”