Japanese electronics producer Panasonic is abandoning the semiconductor enterprise with the sale of its final enterprise in that sector to a Taiwanese firm. Panasonic mentioned Thursday it was transferring the semiconductor enterprise operated by Panasonic Semiconductor Options to Nuvoton Expertise. Lately, Panasonic has bought its semiconductor crops in Singapore, Indonesia and Malaysia.
Phrases weren’t disclosed for Thursday’s transfer, set to be accomplished subsequent yr.
Panasonic’s chipmaking has been struggling in recent times amid competitors from cheaper rivals in South Korea and the remainder of Asia.
Japanese media experiences mentioned the latest US-China commerce struggle, which has slowed gross sales in China, added to these pressures.
The transfer highlights Panasonic and different Japanese electronics makers’ efforts to give attention to extra profitable companies.
“The aggressive atmosphere surrounding the semiconductor enterprise has turn out to be extraordinarily extreme resulting from aggressive growth of rivals, large investments within the targeted space and trade reorganization,” Panasonic mentioned in a press release.
The corporate mentioned it believed Nuvoton appreciates the strengths of Panasonic’s know-how and can steer the enterprise to secure progress.
Panasonic has additionally transferred one other a part of its semiconductor enterprise to Japanese rival Rohm Co., scheduled to be accomplished this yr.
Some Japanese corporations stay within the enterprise, together with Toshiba, Fujitsu, and Sony.