Panasonic mulls reducing TV production, shifting some to China's TCL

News Source: 

Panasonic Corp. is considering shifting production of small and midsize televisions to Chinese home appliance maker TCL Corp. as the Japanese electronics company aims to focus on larger, high-end products, sources with knowledge of the matter said Friday.

Panasonic's TV business has been struggling due to fierce competition from Chinese and South Korean rivals. The company is planning to reach an agreement with TCL in May and end TV production at its plants in India and Vietnam once TCL starts manufacturing products for Panasonic, according to the sources.

A Panasonic plant in Tochigi Prefecture, north of Tokyo, will continue to make TVs that use organic light-emitting diode panels, among other products.

Panasonic is known for its Viera brand, but the TV segment incurred a loss of over 10 billion yen ($92 million) in fiscal 2019.

It has faced the need for restructuring, even though the TV business is expected to return to profitability in the just-ended fiscal year through March thanks to pandemic-fueled demand for home appliances as people spend more time at home during the coronavirus crisis.

Japanese electronics makers have been reassessing their TV businesses in recent years. In 2018, struggling Toshiba Corp. sold its TV and visual products subsidiary to Chinese electronics maker Hisense Group.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

The LM301B EVO enables luminaires to meet latest DLC V5.1 Premium and EU’s ErP Ecodesign requirements to accommodate evolving needs of the lighting industry (Photo: Samsung Electronics) Samsung Electronics, a world leader in advance... READ MORE

San Jose, CA – May 04, 2021 – Lumileds today introduced two new colors – PC Amber and Lime – for its very small and very powerful LUXEON Rubix LED portfolio. The 1.4 square millimeter footprint is almost pixel like and ... READ MORE