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Business

Pioneer putting AV equipment business on the block

OSAKA -- Pioneer is in talks with Funai Electric and other potential buyers to sell its audiovisual equipment segment, planning to retreat from a field hurt by the popularity of online movies and music.

     The move would allow the Japanese company to focus on its more profitable devices for automobiles. Suitors are negotiating with Pioneer through financial institutions, discussing the value of the company's global brand as well as its production and sales networks. The aim is to strike a deal by July.

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