Panasonic may exit the television business, which would be a great loss.
One of the leading OLED television manufacturers is showing uncertainty about its future.
The company Panasonic, recognized for its prestige in television manufacturing, is evaluating the possibility of selling its TV division due to intense competition in the current market. Yuki Kusumi, the company's president, mentioned during a videoconference regarding financial results that “we are prepared to sell it if necessary, but we have not yet made a definitive decision.”
This consideration of a sale arises following the recent transition of 80% of its projector business to the financial services firm ORIX, suggesting that Panasonic is looking for ways to adjust its financial operations. The quality of Panasonic televisions, such as the Z95A model, has been widely appreciated, and the potential disappearance of its product line would be a significant loss for consumers.
Panasonic has gained prestige in the television market, partly due to its outstanding history with plasma screens and the positive reception received by recent models. Additionally, the company’s proximity to the Hollywood film industry has elevated its reputation, as its OLED screens are used as master monitors in film production. Panasonic televisions are known for their excellent color reproduction and motion processing capabilities, as well as incorporating high-end features such as automatic brightness adjustment and Dolby Atmos sound systems.
However, despite its ties to Hollywood, Panasonic televisions have not been available in the U.S. market since 2016, when the company chose to withdraw due to the mass production of low-cost LCDs, just as plasma sales began to decline. Although Panasonic has managed to return to the U.S. market with a new line of OLED televisions that offers Amazon's Fire TV platform, fierce competition from other brands like LG, Sony, and Philips poses significant challenges.
The potential sale of its television business could allow another company to keep the line under its wing, maintaining the Panasonic name under license, much like what currently happens with brands like Toshiba or Sharp. However, brand enthusiasts might fear a loss of quality or a shift in its reputation as a leader in OLED if another company takes over.
Currently, there are no confirmed buyers interested in acquiring Panasonic's television division. Company executives are looking to address various aspects within their extensive electronics empire, including home appliances and mechatronic systems. Nevertheless, Kusumi has mentioned that “drastic measures” are anticipated by the end of the fiscal year 2025/2026, indicating that all options are on the table. There is hope that Panasonic's legacy in the television sector will not be diluted in the process.
