Panasonic plans a radical reorganization by 2025, including breaking up its operations into independent companies and the possible sale of its TV division. The company’s president, Yusuke Kusumi, announced the creation of new business units such as Smart Life for home appliances and Electric Works for lighting. The company is reassessing low-profit sectors, including the TV division, due to competition from South Korea and China. Although it seems drastic, analysts believe the goal of these changes is to ensure long-term growth.
Panasonic plans to split into several companies by 2025.
