Panasonic is said to be considering selling or scaling back its TV operations because of challenges in the market.
According to finance newspaper Nikkei via Flatpanels, its president Yuki Kusumi said during an online earnings call: "We are prepared to sell it if necessary, but we have not yet decided on a plan.”
It’s an interesting comment to make considering the Japanese company started selling OLED and mini LED TVs in the US last year after a decade-long hiatus.
He reportedly identified four underperforming businesses – TVs, appliances, industrial devices, and mechatronics – and plans to take "drastic measures" by March next year. This is reportedly part of a larger strategy where Panasonic will be reorganized into three separate companies, one of which will be called 'Smart Life'.
It released one Mini LED LCD and two OLED ranges during this resurgence, so it’s curious that they are considering scaling back once again. Panasonic’s OLED offerings have always impressed at What Hi-Fi?, with the Panasonic Z95A earning a five-star rating.
That being said, it did exit the Australian market back in 2020 in order to “allow the company to focus on other established and emerging areas of the business".
Kusimi said there isn’t an interested buyer yet, but there will likely be plenty of interest.
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