Panasonic hands over TV sales in Europe and America to China's Skyworth

Gelonghui, February 24th｜According to Nikkei Chinese Edition, starting from April, Panasonic will transfer its TV sales business in Europe and North America to Chinese home appliance giant Skyworth Group. The aim is to cease independent sales and curb costs such as labor and logistics expenses. The two parties will also cooperate in product research, development, and manufacturing. Panasonic itself will focus on sales and production of high-end models in Japan, while sales in other regions and production of low-priced products will be outsourced, which will help improve the profitability of its declining TV business. Regarding the TV business in Europe and North America, Panasonic and Skyworth have signed a comprehensive cooperation agreement, including the transfer of sales.