No New Business in Store for Semiconductor Industry: Says Panasonic

Published By : 27 Jan 2014 | Published By : QYRESEARCH

Responding to the media reports, the massive Japanese consumer electronics corporation Panasonic Corp. announced that it has not decided or planned anything new for the semiconductor business even though it has a few of its plans lying in the pipeline, and even though it has been studying various plans for the strategy of its future business. 

The Nikkei reported that Panasonic has decided to sell three of its major semiconductor facilities present in the Southeast Asia to the Singaporean industry giant the United Test and Assembly Center as a part of its current restructuring features and efforts. 

These facilities are known to assemble image sensors, microcontrollers, power chips, and other products using various substrates that are preprocessed in Japan itself. 

According to the news that was given by Panasonic, the content of the media report was announced by the firm on Friday, wherein, the only decision pertaining to the business was the declaration of the formation of the joint venture of the diffusion plants in the Hokuriku region, Japan with an Israeli chipmaker Tower Semiconductor Ltd. (TSEM) under the brand name TowerJazz. 

The Nikkei report said that the Panasonic’s aim is to unload the facilities in three countries such as Indonesia, Malaysia, and Singapore by the end of this fiscal year 2014. Both the companies are still discussing these business terms and are under an agreement soon. However, the only chip production facilities of Panasonic will remain in abroad at the two Chinese facilities. 

Panasonic’s shares in Japan are currently trading at 1,343 yen, down 15 yen or 1.10 percent.
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