Sony Corp. is in preliminary talks with Taiwan’s Hon Hai Precision Industry Co. as well as the Japanese and foreign investors, with regard to its battery business.
The sale is intended to pull the company out of tough competition from Korean firms and to focus on its core operation. Apart from selling its battery business, Sony is also said to be studying the idea of retaining some stake in it.
Sony became the first company in the world to commercialise the lithium ion battery in 1991 which is widely used to power cell phones, personal computers and other mobile devices. Sony’s battery business generated roughly 142.5 billion yen (US$1.783 billion) in sales in the year ended March 2012. The company did not disclose the sector’s profits or losses.