Panasonic leaves semiconductor business with Taiwan sale

Japanese electronics manufacturer Panasonic Corp. is abandoning the semiconductor business with a sale of its last business in that sector to a Taiwanese company

Japanese electronics manufacturer Panasonic Corp. is abandoning the semiconductor business with the sale of its last business in that sector to a Taiwanese company.

Panasonic said Thursday it was transferring the semiconductor business operated by Panasonic Semiconductor Solutions Co. to Nuvoton Technology Corp.

In recent years, Panasonic has sold its semiconductor plants in Singapore, Indonesia and Malaysia.

Terms were not disclosed for Thursday’s move, set to be completed next year.

Panasonic’s chipmaking has been struggling in recent years amid competition from cheaper rivals in South Korea and the rest of Asia.

Japanese media reports said the recent U.S.-China trade war, which has slowed sales in China, added to the woes.

The move highlights Panasonic and other Japanese electronics makers’ efforts to focus on more lucrative businesses.

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