(Reuters) - Panasonic Corp (6752.T) unit Sanyo Electric Co is in talks to sell its digital camera business to an investment fund as early as this year, the Nikkei business daily said.
Sanyo, which has no camera brand of its own, supplies products on an original equipment manufacturing basis to several companies including Olympus Corp (7733.T). Digital camera production reached about 11 million units in the year ended March 2011, the daily said.
Sanyo has sought potential buyers among domestic and overseas manufacturers, the Nikkei said. Negotiations proved difficult because the company’s operations focus on the shrinking compact digital cameras market, the daily said.
Reporting By Aurindom Mukherjee in Bangalore; Editing by Sriraj Kalluvila