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Panasonic exits Chinese TV market, reviewing US operations - rumor

03 Feb 2015 | Rasmus Larsen |

Panasonic has stopped producing and selling TVs for the Chinese market, according to reports from Japan. Panasonic is reportedly also reviewing the future of its TV business in the US market.

Unconfirmed by Panasonic

Panasonic ceased plasma TV production in 2013, but it might have been too early as the company is struggling to stay relevant in TVs. According to media reports from its home country, Panasonic has already stopped producing TVs for China at its LCD plant in Shandong. Instead, the Panasonic logo will be licensed to an OEM supplier.

Following poor financial results, Panasonic is reportedly also reviewing its involvement in the US market. Panasonic had a relatively strong presence in the US when it produced plasma TVs, but its LCD models have never reached the same heights.

Panasonic CX850

- “It may be surprising, but we sell more TVs in the UK than we do in North America...” said Craig Cunningham from Panasonic UK to Inside CI.

Panasonic is currently producing LCD TVs for the US at a LCD plant in Mexico that has an annual capacity of 500,000 TVs. According to the same sources, Panasonic will stay committed to developing and selling TVs in Europe, Southeast Asia and Japan.

Panasonic has not commented on the reports.

- Source: Insideci

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