Sanyo’s mobile phone division might be for sale; no profit for the past 3 years
By Stefan Constantinescu on Monday, August 13th, 2007 at 4:09 PM PST In Sanyo
Burning money can be fun. If anything it shows people how wealthy you are. Keeping a company alive that hasn’t made any cash in 3 years however is down right foolish. Sanyo (OTCPK: SANYY)’s mobile phones division is struggling to stay afloat and with estimates to sell 11 million phones in the current fiscal year, down from initial expectations of 12.6 million, you have to wonder why even bother? No comments have been made, but speculation has risen that the the bleeding limb might be purchased by another Japanese vendor. Shares of Sanyo are down nearly 4 points from the bad news.
[Via: Reuters]
