Panasonic Considers Withdrawing from 70-Year-Old TV Business

Decision to Withdraw or Sell by March 2027
Plan to Focus on Aircraft and Other Key Areas

Japan's Panasonic Holdings is considering withdrawing from its TV business, which has been ongoing for over 70 years. Panasonic has been downsizing its chronically unprofitable TV business and is now planning to completely exit the TV market.

Yonhap News

According to the Asahi Shimbun and Nihon Keizai Shimbun (Nikkei) on the 5th, Yuki Kusumi, president of Panasonic Holdings, identified four unprofitable businesses including TV and industrial equipment during an online press conference the previous day, stating that these businesses have low profitability and no growth potential, and expressed intentions to withdraw or downsize them.

Chairman Kusumi said that if profitability does not improve by March 2027, they will consider fundamental measures including business withdrawal and sales, adding, "We are prepared to exclude them from the group."

Regarding the TV business, he explained, "Currently, there are no companies willing to purchase it," and that "we are considering various options."

Additionally, Panasonic Holdings plans to dismantle the company 'Panasonic,' which oversees white goods, air conditioners, and lighting sectors, before March next year to reorganize the corporate structure.

However, Asahi reported that it has not yet been decided whether the company name 'Panasonic' will be retained in another form.

Panasonic Holdings intends to streamline the TV business and focus instead on areas considered competitive, such as aircraft entertainment and communication systems, electric vehicle batteries, and enterprise IT services.

Previously, Toshiba, Hitachi, and Mitsubishi Electric also sold off or ceased TV production.

This content was produced with the assistance of AI translation services.