Panasonic to buy Sanyo

[DereX888]

TOKYO (Reuters) - Panasonic Corp said it would acquire smaller rival Sanyo Electric Co, creating Japan's top electronics maker and foreshadowing further consolidation in an industry hit by slowing consumer demand.

The acquisition, which one analyst estimated could cost about $8.8 billion, would fortify Panasonic's competitiveness in rechargeable batteries and solar power equipment as demand grows for greener energy sources.

Panasonic would at the same time become the world's second-largest conglomerate with a major electronics division, behind General Electric and surpassing Hitachi Ltd as the biggest electronics maker in Japan.

more at Reuters HERE

[SatStorm]

Once upon a time, Sanyo use to be the cheap and fair good Japanese alternative. Sometime at the late 90s, it disappeared. Always, I wanted to know, was that a local thing or a more global one?

Well, it doesn't matter anymore.

I still have a sanyo tape recorder/player from the mid 80s. Still works great after all those years (and countless beach parties during the 90s... That was the ancient times before CDs and mp3s)

[wtsinnc]

Sanyo is, I believe, one of the original post-war electronics giants who fueled Japan's astonishing recovery and growth. Although I seldom bought anything they made, I hate to see them go.

We'll be seeing more of this; too many companies involved in the electronics industry that are contracting and possibly going out of business. They can't get $3000.00 for a 42" flat screen TV any longer and the super-competitive pricing for everything audio, video, communications, and computer related has squeezed the bottom line dry. The Japanese economy has been in the toilet for over fifteen years and even a giant like Sony is having major problems. Whoever can survive the next twelve to eighteen months is anybody's guess, but I look for several more big names to dissapear.

[edDV]

This is all about auto rechargeable batteries. Consumer products are in a medium term decline to negative profit. Sanyo and Panasonic are leaders in Li-Ion batteries for future hybrid autos. They are betting their companies.

In related news, Panasonic is selling 42" 1366x768p plasma HDTVs for $699 at Fry's this weekend. A hell of a buy. Might go lower for Thanksgiving Black Friday.

[RabidDog]

It's not about the size, its the quality.... thats the maxim I've lived by :weep: