Panasonic to sell chip business

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Last week, Panasonic said it would be exiting its LCD production division by 2021. Now, the Japanese electronics giant says it is to sell off its semi-conductor business.

Panasonic says that intense competition and the US-China trade disputes have combined to take a toll on its chip-set sales.

The main subsidiary, Panasonic Semiconductor Solutions, is to be bought by Taiwan-based Nuvoton Technology. A second unit, which is a joint-venture with an Israeli company, is also to be sold to Nuvoton in a deal that values both businesses at some $250 million.

Most of Panasonic’s chip devices are used in vehicles and computers.

The transfers are expected to close by June 2020.


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