Seeking Alpha

Panasonic to pull plug on Japanese smartphone business: Nikkei

  • 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.
  • Previous: KKR vies for $1.5B Panasonic healthcare ops
Comments (2)
  • Viper740
    , contributor
    Comments (126) | Send Message
    Oh how the mighty have fallen. Japanese manufacturers are being wiped off the face of the earth by Apple and the Koreans, who they hate (LG and Samsung).
    28 Aug 2013, 06:44 PM Reply Like
  • jpkoelbl
    , contributor
    Comment (1) | Send Message
    Like to know why?
    21 Sep 2013, 04:37 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio: