Sanyo Sells to Kyocera: Saves Itself from Bankruptcy

After investors saved Sanyo from a US$2.8billion debt, for the company to be sold is already a given. Indeed, Sanyo has revealed that they're selling to Kyocera Corporation. The deal, including Sanyo's debts, would amount to, reportedly, US$467 million, although a final price is yet to be set. The intensive competition has compelled Sanyo to sell out "to meet the best interest of the business and its stockholders." A total number of around 2,000 employees would be transferred to Kyocera although the handsets would still carry the Sanyo name in Japan and world wide.