Reuters: Technology News: Panasonic may sell Sanyo digital camera business: source

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Panasonic may sell Sanyo digital camera business: source Dec 12th 2012, 03:09 Tweet Share this Email Print Related News Qualcomm to invest $120 million in Japan's troubled Sharp Tue, Dec 4 2012 Japan's Nikkei rises on hopes for a deal tackling U.S. fiscal woes Thu, Nov 29 2012 Samsung takes aim at Japanese rivals with Android camera Wed, Nov 28 2012 Exclusive: Banks offer to help Sony offload battery unit - sources Wed, Nov 28 2012 Renesas shareholders set to approve $2.4 billion bailout, shares soar Mon, Nov 26 2012 Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » Japan » A man walks past an advertisement board of Panasonic outside an electronic shop in Tokyo February 3, 2012. Credit: Reuters/Kim Kyung-Hoon TOKYO | Tue Dec 11, 2012 10:09pm EST TOKYO (Reuters) - Panasonic Corp may sell its Sanyo digital camera business to Japanese private equity fund Advantage Partners by the end of March, a source familiar with the plan said. A final decision on the sale will be made by the end of the year, the source said on condition he was not identified. Advantage Partners will pay several hundreds of millions of yen for the business, which makes digital cameras for other companies, including Olympus Corp, the Nikkei business daily reported earlier. Panasonic declined to comment saying it had not announced the plan. The Japanese company aims to sell 110 billion yen ($1.34 billion) of assets, including buildings and land by the end of March to boost free cashflow to 200 billion yen for the business year. The company expects an annual net loss of close to $10 billion as it writes off billions in deferred tax assets and goodwill. Panasonic acquired rival Sanyo, a leading maker of lithium ion batteries and solar panels, in 2010. Sales of compact digital cameras are under pressure from increasingly powerful smartphones. Panasonic's shares gained as much as 4 percent in early trading in Tokyo, compared with a 0.5 percent rise in the benchmark Nikkei 225 index. ($1 = 82.3900 Japanese yen) (Reporting by Reiji Murai; Writing by Tim Kelly; Editing by Jeremy Laurence) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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