Sanyo to to supply CDMA phones to China's Haier in OEM deal - UPDATE
AFX - Asia
May 29, 2003
(Updating to add Haier official's comment)
Sanyo Electric Co Ltd (NASDAQ SANYY) will soon start supplying CDMA (code division multiple access) phones to Chinese partner Haier Group Co through an OEM agreement, an official with Haier Group's communications product department said.
"But to date our company is not available to provide further details, including investment and development strategy," the official said.
Sanyo is seeking to expand its share in China's cell phone market by taking advantage of the well-known Haier brand name.
The move will mark Sanyo's first product supply deal on an OEM basis to Haier since the formation of their alliance in January 2002, the Nihon Keizai Shimbun reported today, without citing sources.
Sanyo, which now provides CDMA cell phone handsets produced in Tianjin to China Unicom Ltd, will supply the same products to Haier. Initially, a combined monthly output of 150,000 units is planned, the newspaper reported.
In March, Sanyo and Haier began sales of car navigation systems jointly developed in China under the Haier brand name. But they have sold only about 50 units to date.
The planned supply of cell phones will effectively mark the first major move under their joint production strategy, the report added.
Haier Group has several listed subsidiaries, including Shanghai-listed Qingdao Haier Co Ltd (SH A 600690) and Hong Kong-listed Haier-CCT Holdings Ltd (HK 1169).
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