Panasonic to sell Sanyo's digital camera division
(Japan Economic Newswire Via Acquire Media NewsEdge) OSAKA, Dec. 12 -- (Kyodo) _ Panasonic Corp. is in final talks to sell the digital camera division of its subsidiary Sanyo Electric Co. to Japanese investment fund Advantage Partners LLP, industry sources said Wednesday.
The move comes as the division's earnings have deteriorated on the diffusion of smartphones, they said. The sale price is estimated at several hundred million yen.
In charge of the division is Sanyo DI Solution Co., which produces digital cameras under brands of multiple customers on an original equipment manufacturing basis.
Panasonic plans to sell a 100 percent stake in Sanyo DI and its Indonesian plant to Advantage Partners. Sanyo DI employees may be transferred to other companies within the Panasonic group or taken over by the investment fund, the sources said.
(c) 2012 Kyodo News International, Inc.
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