Sanyo, back in black, makes big push in batteries

Japan's ailing Sanyo Electric unveiled plans Tuesday to invest 3.2 billion dollars in rechargeable batteries and other businesses as it reported a return to the black for the fiscal first half.

The planned investment is part of Sanyo's efforts to revitalise its struggling operations after three straight annual losses caused by fierce price competition in consumer electronics.

The company is increasing its focus on rechargeable batteries, which have been a bright spot in its otherwise lacklustre recent performance and are expected to enjoy brisk growth helped by demand from the auto industry.

Read Full Article from AFP

- Posted: 2007-11-27 10:20:08

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