Nov 29 (Japan Today) - Japanese electronics manufacturer Panasonic Corp is abandoning the semiconductor business with the sale of its last business in that sector to a Taiwanese company.
Panasonic said Thursday it was transferring the semiconductor business operated by Panasonic Semiconductor Solutions Co to Nuvoton Technology Corp.
In recent years, Panasonic has sold its semiconductor plants in Singapore, Indonesia and Malaysia.
Terms were not disclosed for Thursday’s move, set to be completed next year.
Panasonic’s chipmaking has been struggling in recent years amid competition from cheaper rivals in South Korea and the rest of Asia.
Japanese media reports said the recent U.S.-China trade war, which has slowed sales in China, added to those pressures.
The move highlights Panasonic and other Japanese electronics makers’ efforts to focus on more lucrative businesses.
