Pioneer will sell a 51 percent stake in
Pioneer also said it will form a business alliance with
With the tie-up, the Japanese companies are aiming to rebuild their businesses by jointly procuring parts and sharing logistics networks while continuing to sell products under their own brand names.
As Pioneer has focused its resources on car-mounted equipment such as navigation systems, which account for about 70 percent of its sales, it cannot afford to invest in the development of new audiovisual products.
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