Another giant fell? Panasonic to sell LCD panel production line

Matsushita, a Japanese electronics company, plans to use six non-profitable business units to make additional layoffs, in addition to considering the sale of liquid crystal panel production lines and the semiconductor company’s equity in 2017 (April 2017 to March 2018). In addition, it plans to dismantle three business units such as digital cameras this spring to reduce the number of employees.

Panasonic to sell LCD panel production line
Specifically, Panasonic’s LCD panel factory in Himeji, Hyogo Prefecture currently has two production lines, one of which will stop production and plan to sell production equipment. The residential solar energy system division plans to reorganize Japan's domestic factories. In the semiconductor business segment, consider the sale of a stake in a semiconductor manufacturing company established in a joint venture with an Israeli company.
In addition, Panasonic will dismantle three business units, including digital cameras, telephone exchanges, and optical discs, and transfer them to other business units to reduce the number of employees and scale down the business. Panasonic's six business units, which are targeted for streamlining, are expected to total approximately 380 billion yen (accounting for 5% of Panasonic's total revenue) in 2016 (April 2016-March 2017). Total revenue estimates About 46 billion yen.
The failure of the plasma business dragged on Panasonic’s cumulative loss of approximately 1.5 trillion yen in the two years ending in 2012, forcing him to take over as president in 2012. In addition to the television production business in China and the withdrawal of the domestic consumer smartphone market in Japan, the company also ended its plasma TV and plasma panel business and sold a number of business units including lead-acid batteries. However, due to the current downturn in Panasonic's performance, the layoffs are the final disposal of the loss-making business.
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