Manufacturer updates
Kyocera to buy Sanyo's mobile business
Kyocera has struck a deal with SANYO to buy their mobile phone business. The agreement is planned to become effective April 1, 2008.
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To ensure a smooth transition in the market, Kyocera plans to offer both Kyocera- and SANYO-branded products in Japan and abroad for the foreseeable future.
In North America, the acquisition will result in the creation of a new wholly-owned Kyocera subsidiary on April 1, 2008 that will assume the operations of the U.S.-based SANYO business units and will commence operations separate from San Diego-based Kyocera Wireless Corp., in order to maintain immediate continuity with its existing distribution network.
The deal, which will mark the first major realignment among Japanese mobile phone makers, is a core part of Sanyo's restructuring efforts to turn around its struggling operations.
With the transfer of the cellphone business, Sanyo will focus more on its profitable products such as rechargeable batteries and industrial equipment.
Kyocera said it will be able to acquire Sanyo's strong customer base in Japan and North America in order to reinforce its mobile phone business.