Panasonic could entrust the production of some TVs to Chinese TCL. The indiscretion, reported by generally reliable Japanese sources, does not concern the entire range of televisions but only a specific range, to be precise small and medium-sized models. We are therefore talking about a segment made up entirely of LCDs. This change would allow Panasonic to focus your energies on the most profitable segment, the one made up of the products of wide diagonal and come on TV “high-end“(the premium segment which also includes the JZ2000s, for example).
Negotiations between the two companies are currently underway with prospect of signing the agreement by the end of May. If successful, Panasonic would close its plants in Vietnam and India by the end of the third quarter; on the other hand, the production of premium-range OLED TVs in Japan and abroad would remain active, although operations to rationalize costs are not excluded. The decision to rely on third parties for part of the production was not taken recently but matured following the results recorded in 2019, the year in which the TV division lost over 10 billion yen (about 76 million euros).
The choice has now fallen on TCL due to strong sales (it is the third largest producer in the world), for its procurement possibilities and for its production capacity (TCL can also count on panels made by China Star Optoelectronics). The internal restructuring should allow Panasonic to better face the challenges of the global market, which is increasingly competitive mainly due to Chinese competition. According to data reported by Omdia analysts, Panasonic has progressively lost market share after Plasma’s exit, coming to hold about 1.8% in 2020, numbers that have led it to be the twelfth producer in the world. world (remember that televisions are no longer on sale in the United States, China and Australia).
Obviously, any developments of this collaboration with TCL will not produce immediate effects and there will therefore be no news on the 2021 range. For information on upcoming televisions, please refer to the following articles: