Japan's Panasonic is considering selling or scaling back its TV operations as it continues to face significant challenges in the market.
The statement came directly from President Yuki Kusumi during an online earnings call this week, according to Nikkei.
- "We are prepared to sell it if necessary, but we have not yet decided on a plan," said Panasonic President Yuki Kusumi referring to the TV business.
CRT, Plasma, LCD, OLED
Panasonic has a rich history in the TV business, dating back to 1952 when it was known as Matsushita. It was part of a wave of major Japanese TV makers, which also included Toshiba, Sharp, JVC and Hitachi.
Like Panasonic, Japan's Sony remains in the TV business but is also grappling with a declining market share.
The company launched the first black-and-white picture tube TV (CRT) and later championed plasma TVs before being forced to abandon plasma technology in 2014 due to the shift to 4K and HDR.
Also read: First look at Panasonic Z95B: New OLED panel and design
More recently, Panasonic has focused on OLED and LCD TVs. While Panasonic has produced some of the best OLED TVs, it has struggled to compete with bigger and more agile South Korean brands. In the LCD market, Panasonic has faced difficulties keeping up with both South Korean and Chinese TV makers.
Last year, Panasonic reentered the US TV market.
No buyer in sight
Yuki Kusumi said that so far no corporations have expressed interest in buying Panasonic's TV business, but the company will continue to explore its options.
He identified four underperforming businesses – TVs, appliances, industrial devices, and mechatronics – and will take "drastic measures" by the end of its fiscal year 2026, i.e. the end of March 2026.
This is part of a larger strategy to improve profitability in which Panasonic will be reorganized into three separate companies, one of which will be called 'Smart Life'.
- Source: Nikkei
