Panasonic turns off US TV business with handover to Chinese rival - FT

Panasonic turns off US TV business with handover to Chinese rival - FT

Panasonic Considers Strategic Exit from U.S. Television Market
February 23, 2026

Panasonic, the Japanese electronics giant, is reportedly reevaluating its long-term strategy in the U.S. television market, with reports suggesting the company may scale back or divest its TV operations entirely according to industry reports. This development follows years of declining market share and intensifying competition from South Korean and Chinese manufacturers.

The company's historical struggles in the U.S. market stem from its reliance on plasma display technology, which lost favor as LCD, LED, and OLED alternatives gained traction. Panasonic exited the U.S. TV market in 2015, re-entering in 2024 with a renewed focus on OLED and mini-LED technologies. Despite this relaunch, the brand faces persistent challenges, including fierce competition from cost-effective models from TCL, Hisense, and Samsung, as well as shifting consumer preferences toward streaming-integrated platforms.

Recent reports indicate Panasonic is exploring strategic options for its U.S. TV business, including potential partnerships or sales to third parties. While no formal announcement has been made, industry analysts speculate that Chinese manufacturers like TCL or Hisense—known for aggressive market expansion—could emerge as buyers. Similarly, Turkish firm Vestel, which acquired Toshiba's TV division in 2016, has been cited as a potential suitor.

Panasonic's global TV market share has declined sharply, from approximately 20% in the 2010s to 12.8% in 2025. The company has not commented directly on the reports but emphasized in a recent statement that its "journey in the TV industry is far from over".

The decision reflects broader industry trends, where traditional TV manufacturers struggle to balance innovation costs with shrinking profit margins. Panasonic's potential exit would mirror similar moves by Toshiba and Sony, underscoring the sector's consolidation amid rising competition and technological disruption.

For investors, the outcome of Panasonic's strategic review could signal further shifts in the global TV market, particularly as Chinese and South Korean firms solidify their dominance. The company's focus on high-margin segments, such as automotive batteries and industrial solutions, remains unchanged.

Panasonic's U.S. re-entry and historical market challenges: Panasonic's U.S. re-entry and historical market challenges.
Reports on production halts and strategic reviews: Reports on production halts and strategic reviews.
Analysis of market share trends and potential buyers: Analysis of market share trends and potential buyers.