According to AV Interactive, a UK electronics publication, the Sanyo name
will cease as of April 1, 2012. The brand will be absorbed into the Panasonic brand
. This news comes via a letter that Panasonic sent out to business partners, announcing that Sanyo's existence will cease at the end of Q1 2012.Additional Resources
• Read more industry trade news
• Learn more about Panasonic's Eco Campaign
• See the AV Interactive article on their website
Panasonic bought Sanyo in December 2008 for $4.6 billion dollars, but times have changed. Panasonic recently forecasted the largest annual loss for the company in the last decade. The folding of Sanyo is only one of several steps that Panasonic has taken to combat that loss.
Panasonic cut more than 15,000 jobs worldwide. The company has also begun scaling down its TV department, which includes reducing the production capacity for plasma panels by 48%. Panasonic has also had to cut the annual TV sales target from 25 million to 19 million, forced by competition from Samsung and LG.
But the news isn't all bad for Panasonic. The company recently decided to keep its facilities in New Jersey
. It's unfortunate that the Sanyo brand will disappear, but the products will most likely continue to live on under the Panasonic banner.