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Sunday, April 26, 2009

Honda Planning to Invest in Pioneer Corp

Honda is pondering to invest hundreds of millions of dollars in electronics firm Pioneer Corp. which is currently struggling because of global economic recession. Both the companies are now in talks, though nothing has been finalized yet. Pioneer holds 30 percent of car navigation systems market in Japan and that is why, the board of directors of two companies is interested to make a financial deal. Pioneer has earlier declared that the company is going to cut 10,000 jobs across the globe and has decided to leave television business to remain focused on car electronics. The deal seems to provide some advantage to Honda Corp. too. For example, Honda will be able to come up with new services, if it invests in Pioneer Corp.

Related article:

AFP

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