Panasonic to withdraw from TV production in Europe on March 2022

dian5816

Member
Japanese brand Panasonic will withdraw from TV production in Europe by the end of March 2022, Nikkei.com reported. Officials said the reason for the withdrawal of the business is the fierce price competition from Chinese and Korean companies, and Panasonic's TV business continues to lose money. Panasonic also has eight production sites around the world in 2019, and plans to reduce them to two in the future to maintain the profitability of the TV business by cutting expenses.

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In addition, Panasonic said that the production of TVs for the European market will be outsourced in the future, and product sales will continue to be maintained.

According to Nikkei News, Panasonic currently has only one TV production site in Europe, located in Pilsen, western Czech Republic. The plant was put into operation in 1997 and employs about 400 people. Prior to that, the plant's annual TV production was around 1 million units.
 

dian5816

Member
Panasonic will sell approximately 3.6 million TVs in fiscal 2020 (as of March 2021), with a current global market share of less than 2%. In the future, only two production bases of Panasonic TVs will remain in Malaysia and Taiwan, China, while the factories in Japan, Vietnam and India have stopped production.
 
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