Sanyo has agreed to sell its mobile phone business to Kyocera for an undisclosed sum. The two companies have been in talks concerning the sale and are said to be reaching the final terms of an agreement soon. The mobile phone business has been a money loser for Sanyo, and Kyocera can use Sanyo’s presence in the U.S. market to bolster its own. If the deal goes through, it will make Kyocera the world’s seventh largest cell phone maker.