Sanyo buys LCDs from Sharp, eyes appliance ties

TOKYO, May 23 (Reuters) - Sanyo Electric Co (6764.T: Quote, Profile, Research, Stock Buzz) said on Friday it has started buying liquid crystal display panels (LCD) from Sharp Corp (6753.T: Quote, Profile, Research, Stock Buzz) for use in its flat TVs sold in North America and that the two firms are considering joint development of kitchen appliances.

Sanyo spokesman Hiroyuki Okamoto said it began procuring panels from Sharp earlier this year for some of its TV sets sold in North America. Sanyo sold about 1 million LCD TVs in North America in the business year that ended on March 31, Okamoto said.

Sanyo and Sharp are also considering joint development of kitchen appliances such as microwave ovens, Okamoto said.

Sanyo announced on Thursday that it returned to the black for the first time in four years, helped by robust sales of rechargeable batteries and digital cameras, and said profit would jump this year on the sale of its cellphone unit. (Reporting by Nathan Layne)