Japanese TVs are no longer Japanese: now Panasonic is handing over production to the Chinese

Panasonic announced the transfer of its television production division to the Chinese company Skyworth. This effectively ends the history of Japanese Panasonic TVs, which for many years were considered the standard of quality.

What is known

According to the agreements, by April Skyworth will have the rights to produce and sell televisions under the Panasonic brand in the global market. At the same time, Panasonic itself will retain control over key technologies and patents, but TV operations will be completely transferred to the Chinese partner.

The company explains the decision by the declining profitability of the television industry and increasing competition from Chinese manufacturers, who dominate the mid-range and budget segments. Panasonic intends to focus on more promising areas—industrial electronics, automotive systems, and energy solutions.

For Skyworth, this deal is an opportunity to strengthen its position on the international stage by using the recognizable Panasonic brand and its reputation in the premium class.

The business transfer should be completed by 2026. For consumers, the changes will be almost unnoticeable: Panasonic TVs will remain on the market, but in fact, their design and production will be taken over by Skyworth.

This agreement is almost identical to the one made by Sony and TCL at the end of January.

Source: Financial Times