Panasonic To Sell Chipmaking Business
Japanese technology conglomerate Panasonic will sell its loss-making semiconductor business to Taiwan’s Nuvoton Technology.
Panasonic was once a pioneer in the semiconductor industry, a sector that it first entered in 1952. But the unit is struggling, largely due to the US-China trade war.
The company is preparing to sell wholly owned Panasonic Semiconductor Solutions to a midsize Taiwanese company that supplies the likes of HP, Dell and Microsoft.
The chip unit handles development, production and sales. Panasonic will also part with three Japanese chipmaking facilities under TowerJazz Panasonic Semiconductor, a joint venture with Israel’s Tower Semiconductor.
Nuvoton, a subsidiary of Taiwanese specialty memory chip maker Winbond, makes microcontrollers, controllers, and audio- and power-related chips.