Panasonic responds to sale of TV business: no decision made yet

Quoted in 《Sina》

IT Home, 5 February - Panasonic Holding Co. is looking to reduce fixed costs and transition to areas with more profitable potential, such as artificial intelligence. The Japanese company is considering cutting costs by restructuring its personnel and scaling back underperforming businesses.

According to Nikkei News, Yuki Kusumi, president of Panasonic Holdings, said that it will consider selling or streamlining its troubled TV business, and that the company will restructure to achieve faster decision-making and focus on growth.

In response, Panasonic further explained: Regarding the troubled businesses, including the TV business, we are discussing all possibilities under consideration in order to achieve a fundamental change in the earnings structure. However, as of now, no decision has been made on any related matters, including sale or exit.

As for the business plan for China after the company's restructuring, Panasonic said that it will be discussed at a later date, with the exception of what Panasonic Group CEO Yuki Kusumi has announced to the public.