According to Nikkei – reported via Reuters, Japanese electronics giant Panasonic is expected to shift all products of its mobile phone handsets units out of its home country as early as this summer in an urge to enter into the international markets. Panasonic last month reported its quarter three results with a loss of $9 billion promises restructuring.
The production shake-up comes after the struggling company named the head of its loss-making TV business, Kazuhiro Tsuga, 55, as its new president in February. Panasonic sold around 5 million handsets in the just-ended fiscal term, making it the No. 3 domestic manufacturer behind Sharp and Fujitsu. The production from the Shizuoka factory will be moved to Beijing and Malaysia and some will be outsourced to overseas manufacturers.