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Sanyo to sell digital camera division to investment fund

Fri, 12/21/2012 - 9:50am
The Associated Press

OSAKA, Dec. 21 (Kyodo) — Panasonic Corp. said Friday its subsidiary Sanyo Electric Co. has agreed to sell its digital camera division to Japanese investment fund Advantage Partners LLP.

The division, Sanyo DI Solution Co., has been producing digital cameras under brands of multiple customers on an original equipment manufacturing basis.

Sanyo Electric spun off the division last July, but has found it difficult to maintain its competitiveness in the increasingly fierce market, Sanyo said.

Panasonic said the deal, the value of which has not been disclosed, will not have a significant impact on its consolidated earnings forecast for the current year to next March.

 

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