Panasonic will withdraw TV production from Vietnam

This year, Panasonic will quickly end TV production at its factories in India and Vietnam.
After considering the margins for the development of low-end TVs, Panasonic finally decided to negotiate with TCL, the world’s third-largest TV maker.

Previously, Japan’s top brands have, in turn, eliminated or reduced the scale of TV production, an area that is considered the spearhead of the electronics industry in this country. Now it is Panasonic’s turn to follow in the footsteps of its “seniors”. Accordingly, the company will continue to produce high-end TVs, but mainly to serve the Japanese market. In addition, the company will also consider consolidating or shrinking TV production locations at home and abroad. Previously, Panasonic used to be one of the major TV manufacturers with 10% of the global TV market share, but since low-cost competitors from China appeared, the company gradually lost its appeal. It is known that the TV business and production accounts for less than 10% of Panasonic’s total revenue. Besides TVs, Panasonic also sold its semiconductor business to Taiwan’s Nuvoton Technology as well as withdrew from manufacturing liquid crystal displays and solar cells. Currently, Panasonic owns 8 companies in Vietnam, including Panasonic System Networks Vietnam located in Thang Long Industrial Park, Dong Anh, Hanoi; factories producing refrigerators, washing machines, R&D centers, sales departments are all over the country, from Hanoi, Da Nang, Ho Chi Minh City, Can Tho … synthetic