Sanyo to sell mobile phone unit to Kyocera
Japan's Sanyo is selling its mobile phone business to Kyocera as part of its
ongoing restructuring, it said Monday.
The deal values the unit and its assets, which includes Sanyo's CDMA (Code
Division Multiple Access) handset business and base station business, at ¥50
billion (US$468 million). However the total value of the unit drops to about
¥40 billion once debts have been taken into account. The transfer is expected
to take place on April 1.
As part of the agreement Kyocera will be able to use the Sanyo brand on cell
phones sold in Japan and North America, Sanyo's main markets.
The two companies have been working on the deal since they signed a tentative
agreement in October last year.
IDG News Service
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