- Panasonic (PCRFY.OB +1.8%) is finalizing plans to pull out of the Japanese smartphone business, Nikkei reports. It will end production at its factory by Mar. 2014.
- Panasonic will continue offering conventional cellphones, specialized smartphones for corporate users, and outsourced models for foreign markets.
- The company has apparently been approached by potential buyers like Nokia for its cellular base station business.
- The move comes after Japan's largest mobile carrier, NTT DoCoMo, adopted a new marketing strategy to offer larger discounts on smartphones from Sony and Samsung.
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