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Sanyo, Kyocera in talks on mobile biz transfer

Posted: 17 Oct 2007 ?? ?Print Version ?Bookmark and Share

Keywords:mobile business transfer? cellphone? handset?

Finally setting the record straight on speculative reports that it was selling off its cellphone business, Sanyo Electric Co. Ltd announced that it has reached a basic agreement to continue further negotiations with Kyocera Corp. regarding the transfer of the its mobile unit.

According to the agreement, Sanyo has granted Kyocera priority negotiating rights, and both companies have signed a contract agreeing to continued negotiations. Regarding the transfer of the mobile phone business, both companies will have the value of the assets appraised and audited, and will continue to work together negotiating a possible final agreement.

Sanyo's mobile phone business includes PHS handsets, PHS base station and radio systems, which will become a WiMAX base station business. Approximate consolidated sales of the mobile unit is $2.35 billion as of March 31.

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