Sony Plans To Hold on To It's Lithium-ion Battery Unit - Benzinga

Sony CorpSNE

has decided not to sell its lithium-ion battery unit according to

Reuters. For the past two years the Japanese based international conglomorate has been hoping to sell off the unit which has struggled against cheaper South Korean rivals. Reuters reported that Sony was close to selling the unit to fellow Japanese international giants, Nissan Motor and NEC Corp. Talks have stalled leading Sony to hold on to the battery unit. Last year the company sold its chemical business to a government turnaround fund as part of its strategy of focusing on consumer electronic goods such as cameras and smartphones. Sony is now hoping that a weaker yen and growing demand for smart phone batteries can help turn around the division in the coming years. A weaker Yen benefits Japanese exports as goods will be more competitive in the international market. The Yen is trading near five-year lows against the U.S. dollar and is trading near ten-year lows against other currencies such as the Singapore dollar.

Market News and Data brought to you by Benzinga APIs

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Posted In:

News Japanese Exports Japanese Yen Sony Sony Battery Unit Sony Chemical Business U.S. Dollar Yen

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Benzinga.com on devices

Comments