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Panasonic Reportedly To Sell Semiconductor Unit To Taiwan's Nuvoton

Japanese electronics maker Panasonic Corp. (PCRFY.PK,PCRFF.PK) plans to sell its loss-making semiconductor business to Taiwan's Nuvoton Technology, Nikkei Asian Review reported Thursday.

The decision reportedly follows headwinds from the U.S.-China trade war that weakened demand.

Panasonic also plans to part with three Japanese chipmaking facilities under TowerJazz Panasonic Semiconductor, a joint venture with Israel's Tower Semiconductor.

The company would also exit the liquid crystal display business in 2021 as part of a broader campaign to dump loss-making operations.

The company is preparing to sell wholly owned Panasonic Semiconductor Solutions to Taiwanese company, which supplies to HP, Dell and Microsoft.

Panasonic Semiconductor, which once ranked among the world's top 10 producers by sales, recorded an operating loss of 23.5 billion yen or $215 million for the fiscal year ended in March on sales of 92.2 billion yen.

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