Sanyo Electric Co. may sell its image display apparatus business and stop making plasma TVs, the Sankei newspaper said, citing company officials it didn't identify.
The reason for Sanyo to withdraw from the organic electro luminescence and plasma TV businesses is because of their low profitability, the report said. The company will concentrate on the home electric appliances business to increase revenue, it said.
"We are currently checking all the business lines in detail," Sanyo's Tokyo-based spokesman Akihiko Oiwa said. "Any specific plan has not been decided yet."
The plasma TV business may have difficulty posting a profit because the company buys the display panels from outside suppliers, he said.
The company said it will move 400 of its managers in Japan, or 10 percent of the total, to affiliated companies to cut costs.
In July the company announced a business plan that included cutting 14,000 jobs, or 15 percent of its workforce, over 3 years. (ShanghaiDaily.com)
to Daily News