Kyocera prepping to buy Sanyo’s mobile phone division
Posted by Will on Friday, September 14th, 2007 at 4:15 pm under Financial, Sanyo, Kyocera, Announcements
Remember when we told you that Sanyo wanted out of the mobile phone manufacturing business? Well, it seems they’ve found a suitor to take their not-so-blushing mobile phone division off their hands. Kyocera is reportedly in the final stages of negotiations to buy Sanyo’s in-the-red handset business.
If the acquisition goes through, we could see the creation of the 7th largest mobile phone manufacturer in the world - a definite boost for Kyocera. Word has it that Kyocera will be ponying up 50 billion yen ($435 million) to Sanyo, which should help ease the ailing company’s three-year streak of red-ink.
We’ll keep you updated on how this deal goes down. In the super-competitive market that is the mobile phone business, we wouldn’t be surprised if Kyocera backed out at the last minute, fearing too much risk in the Sanyo acquisition. On the flip side, Kyocera would instantly come into established infrastructure, helping make Kyocera a stronger global player. Stay tuned!
[Via: Yahoo]
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