Panasonic turns off US TV business with handover to Chinese rival

February 24, 2026 - 13:39

In a significant shift within the global consumer electronics landscape, Panasonic Corporation has finalized its exit from the television business in the United States. The company will transfer the majority of its overseas TV operations, including key markets in North and Central America, to the Chinese manufacturer Skyworth.

This strategic handover marks the end of an era for Panasonic, a brand once synonymous with premium television sets like its acclaimed Viera plasma models. The move underscores the intense competitive pressures and razor-thin margins in the mainstream TV market, which have led several historic Japanese brands to scale back or completely withdraw from the sector in recent years.

Under the new agreement, Skyworth will acquire the license to manufacture and sell Panasonic-branded televisions in the designated regions. This arrangement allows Panasonic to maintain a brand presence without the direct costs of manufacturing, marketing, and distribution. For Skyworth, a major player in China's domestic market, this deal represents a crucial opportunity to expand its global footprint and brand recognition using a well-established name.

Industry analysts view this transition as a pragmatic step for Panasonic, enabling the corporation to focus its resources on more profitable B2B divisions, such as automotive batteries, supply chain solutions, and factory automation equipment. The television market's future in these regions will now hinge on Skyworth's ability to leverage the Panasonic legacy while navigating a crowded field dominated by South Korean and other Chinese competitors.