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 Solutions to Nuvoton Technology. In current years, Panasonic has offered its semiconductor crops in Singapore, Indonesia and Malaysia.
Terms weren’t disclosed for Thursday’s transfer, set to be accomplished subsequent 12 months.
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 current 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 deal with extra profitable companies.
“The competitive environment surrounding the semiconductor business has become extremely severe due to aggressive expansion of competitors, huge investments in the focused area and industry reorganization,” Panasonic mentioned in a press release.
The firm mentioned it believed Nuvoton appreciates the strengths of Panasonic’s expertise and can steer the enterprise to steady progress.
Panasonic has additionally transferred one other a part of its semiconductor enterprise to Japanese rival Rohm Co., scheduled to be accomplished this 12 months.
Some Japanese corporations stay within the enterprise, together with Toshiba, Fujitsu, and Sony.