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Panasonic leaves semiconductor business with Taiwan sale

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

Catch up on the developing stories making headlines.

Panasonic said Thursday it was transferring the semiconductor business operated by Panasonic Semiconductor Solutions Co. to Nuvoton Technology Corp.Terms were not disclosed for Thursday’s move, set to be completed next year. Japanese media reports said the recent U.S.-China trade war, which has slowed sales in China, added to those pressures.

“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 said in a statement.

 

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Tough headline. *Tough* headline.

Yeah well, they were the equivalent of Nokia to smartphones

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