Panasonic has decided to outsource its television sales in Europe and the US to the Chinese electronics giant Skyworth as part of an effort to improve profitability in its TV business.
Panasonic has announced that it will begin outsourcing its television sales in Europe and the United States to Skyworth, a major Chinese appliance manufacturer, starting in April. This move is aimed at reducing logistical and sales costs, thereby improving profitability in Panasonic's television division. The decision is part of broader structural reforms implemented within the company over the past year, which also include contemplating collaboration on the development and manufacturing of televisions in the future, although Panasonic plans to maintain control over domestic sales in Japan.
Historically, Panasonic has focused its TV sales primarily on the Japanese and European markets, and the agreement to collaborate with Skyworth follows a comprehensive cooperation agreement established last year. The announcement coincided with a product launch in Europe, which is significant as it marks the first time Panasonic has outsourced its sales operations; while it has previously delegated production of lower-tier models to other manufacturers, selling through a partner is a new strategy for the company.
Amid these changes, Panasonic Holdings has been undertaking extensive structural reforms since last year, which involve reducing its workforce by approximately 12,000 employees. President Yuki Kusumi has categorized the television segment as a
