Kyocera buys over Sanyo cell phone business
The mobile business is a dog eat dog world. Price cuts, telco competition and high cost overruns can really ruining any mobile business and its getting tougher. The latest company to sell off their cell phone business is Sanyo and Kyocera should be set to close the deal at worth about 50 billion yen. Now that’s a lot of money.
I am glad I’m a small time player / blogger where I keep costs down and profits high. Anybody wanna buy my dotcom business ?
Sanyo’s former president was ousted last year after he refused to make major reforms. Sanyo has already sold its small mobile phone retail business and dumped its remaining holdings in Sanyo Electric Credit Co.
Under Monday’s agreement, about 2,000 employees in Sanyo’s mobile phone operation will be transferred to Kyocera, which will continue to use the Sanyo brand on handsets at home and overseas.
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POSTED IN: Announcements, Cellphones
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