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End of an era as Japan's Panasonic exits chip business

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TOKYO - Japanese electronics giant Panasonic said Thursday it was exiting the semiconductor business, selling its loss-making subsidiary to a Taiwanese firm as it struggles with intense competition fr

om China and South Korea.

The Japanese conglomerate said it was offloading its subsidiary Panasonic Semiconductors Solutions to Taiwan's Nuvoton, with the sale scheduled to take place in June. A spokeswoman for the firm told AFP Panasonic would receive $250 million.

 

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