Subject: [NEXTEL-1] Kenwood to Exit Japan Cellphone Business

From: Marcel <[email-masked]>
Date: Wed, 30 Oct 2002 05:00:57 -0500

http://story.news.yahoo.com/news?tmpl=story&u=/nm/20021025/tc_nm/telecom_japan_kenwood_dc_1

------------------------ Yahoo! Groups Sponsor ---------------------~-->
Sell a Home for Top $
http://us.click.yahoo.com/RrPZMC/jTmEAA/jd3IAA/61FxlB/TM
---------------------------------------------------------------------~->

Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/ 

News Home - Yahoo! - Help

Welcome, marcel_rf1

Personalize News Home Page

-

Sign Out

Yahoo! News
Wed, Oct 30, 2002

Search

News StoriesNews PhotosAudio/VideoFull CoverageThe New York TimesAll of Yahoo!

for

Advanced

News Front Page

Top Stories

Elections

Business

World

Entertainment

Sports

Technology

Internet

Personal Tech.

Communications

Software

Enterprise

Apple/Macintosh

Politics

Science

Health

Oddly Enough

Op/Ed

Lifestyle

Local

Comics

News Photos

Weather

Most Popular

Audio/Video

Full Coverage

Lottery

Crosswords

News Resources

Providers

Reuters

AP

TechWeb

USA TODAY

NewsFactor

PC World

My Yahoo!
Add Technology - Reuters to My Yahoo!

Technology - Reuters

Kenwood to Exit Japan Cellphone Business - Paper

Fri Oct 25,12:04 PM ET

NEW YORK (Reuters) -

Struggling Japanese audio equipment
maker Kenwood Corp.(6765.T) will pull out of its mobile phone
operation later this month to focus on its more competitive
in-car device production, the Nihon Keizai Shimbun reported.

The move, to be the first among Japan's major handset
makers, will be accompanied with a cut through voluntary
retirement of 250 staff at its facility in Yamagata of western
Japan, or 62 percent of the workforce there, the paper's online
Saturday edition said.

An official at Kenwood USA declined to comment but said the
company had already withdrawn from the cellphone business in
the United States after two years of operation since 1991.

The report comes a day after the restructuring audio
equipment maker revised up its forecast for the first-half
ended September from nil to a profit of 800 million yen ($6.4
million) after two years of leaking red ink.

The company attributed the revision -- the first upward
revision in six years -- to sharp cost cutting as a result of
restructuring steps that included job cuts and plant closures.

The Nihon Keizai estimated that Kenwood sold about 700,000
handsets in the fiscal year that ended March 2002, notching an
operating profit of some 1 billion yen on revenue of about 40
billion yen.

Prior to the latest announcement, Kenwood's stock ended
Friday in Tokyo unchanged at 103 yen, compared with a 1.30
percent rise in the benchmark Nikkei 225.

AdditionsRemodelsMaidsHandymanHVACLandscapingDecksFencingPaintingPlumbingRoofingAnd more

< Previous Story

Email Story

Print Story

Next Story >

Message Boards: Post/Read Msgs

Ratings:

Would you recommend this story?

Not at all

1
- 2
- 3
- 4
- 5

Highly

<script language="JavaScript" type="text/javascript"
src="http://personal.news.yahoo.com/us/news/ratings/getavgrate.html?locale=us&prop=news&rateid=nm/20021025/telecom_japan_kenwood_dc&type=T&js=1">
</script>

Search:

News StoriesNews PhotosAudio/VideoFull CoverageNew York TimesAll of Yahoo!

for

Advanced

More Technology - Top Stories Stories

·

Verizon, Spam Co. Reach Settlement

(AP)

·

Vignette Snatches Up Epicentric
(TechWeb)

·

Enhanced 911 calls still far from wide coverage
(USA TODAY)

·

The Unstoppable Flood of Spam
(NewsFactor)

·

Office 11 Limited to Windows XP, 2000
(PC World)

Shopping for a new car?

ADVERTISEMENT

Get a free price quote from a dealer in your area. No obligation, no hassle.

- Model - - Select a Make -

Zip:

Toyota Car

Toyota Trucks

Honda
Nissan

Ford Car

Ford Trucks

Buick
Cadillac

Weekly Specials

ADVERTISEMENT

·

Web hosting. Best quality, 24/7 toll free support. Lowest prices.

·

$7.95 Domain Name Registrations & Transfers at Aplus.Net!

·

TD Waterhouse-Special Offer

·

SUV Crash Tests

·

Refinance Now! Before Rates Increase!

·

FREE credit report & trial membership!

·

Planning to Sell Your Home? Compare REALTORS® Now!

·

Top 10 Auto Theft Areas

·

Access Your PC Anywhere, Anytime - Free Trial!

·

$8.95 Domain Name Registrations & $7.75 Transfers at GoDaddy.com

ADVERTISEMENT

Services

•

Daily Emails

•

Free News Alerts

Copyright © 2002 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Copyright © 2002 Yahoo! Inc. All rights reserved.
Questions or Comments
Privacy Policy -Terms of Service