Latin America. Panasonic announced that it will end production of liquid crystal display panels, LCD. While Panasonic had responded to the stiff competition and evolution in the LCD panel business environment, and had taken several steps to change its market focus and introduce new products, it has determined that further business continuation would be unfeasible.
Specifically, Panasonic will end production of LCD panels by 2021 at Panasonic Liquid Crystal Display Co., Ltd. ("PLD", located in Himeji City, Hyogo Prefecture). PLD is a 100% consolidated subsidiary of Panasonic Equity Management Japan G.K., which is a 100% consolidated subsidiary of Panasonic. With respect to current PLD employees, Panasonic will conduct labor management consultations to ensure their job security while respecting their wishes, with the aim of transferring and relocating them within the Panasonic group.
Panasonic consolidated IPS Alpha Technology, Ltd., the former PLD, in August 2008, and began producing LCD panels for TVs at its Himeji plant in April 2010. Panasonic established PLD in October 2010 and focused primarily on TVs.
However, due to stiff price competition in the TV market in the following years, PLD ended production of LCD panels for TVs in 2016, and shifted its focus to LCD panels for automotive and industrial areas where Panasonic's LCD panels are highly prized for their high contrast and wide viewing angles.
While Panasonic carried out the restructuring measures as described above, Panasonic determined that the continuation of the business would be unfeasible, in the face of a more difficult environment in the global market, so the decision was made to stop production.
Panasonic will focus on its B2B business after the end of LCD panel production. The company plans to expand its business globally, especially the automotive and industrial areas in the device business by focusing on automotive CASO, information and telecommunications, and factory labor savings, and developing and offering attractive products that meet the demands of its customers.
