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Panasonic announces complete reorganization of the company

Panasonic issued the full year financial report (PDF available here) and a plan to restructure the company (PDF available here). The financial report contains no info about how the camera business is doing. But there is an important news:

Panasonic announced a major asset restructuring plan, abandoning the unprofitable, hopeless, and weakly competitive TV business, dissolving Panasonic Electric Company and reorganizing it into three independently operated companies according to categories, thereby activating the vitality of this century-old Japanese company. The home appliance sector was organized as the “Smart Life Company”, the air conditioning sector was organized as the “Air Quality Air Conditioning, Food Distribution Company”, and the lighting sector was organized as the “Electrical Engineering Company”.

The ‘Smart Life Company’ includes the camera business, and I think the only good news is that they only want to sell the TV business for now. For now I think the Lumix business is here to stay and the next two camera announcements might help Panasonic to make new strong sales!

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