Panasonic cut down its production of LCD screens

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The Japanese electronics maker Panasonic announced that from this year will boost production of liquid crystal displays for small and medium size tablets or smart phones (smartphones), which involve cutting manufacturing LCDs for TVs.

“To improve our profits in the LCD business, we are working on increasing the production of panels used for devices other than televisions,” said the maker of Osaka in a brief statement.

They also specifies that the Panasonic plant  cut production of panels for TVs and increase the volume of small and medium LCDs that provides other companies to manufacture tablets and other devices over than 50% today.

Panasonic has suffered operating losses for four straight years in its TV business and apparently the company expects lower sales than expected this year, so it is imperative to reduce the cost of supply of screens.

The company launched last fiscal year, which ended in Japan last March 31, a net loss of more than 7,400 million euros, and has carried out since 2011 a process of restructuring its TV and semiconductor sectors.

Yesterday it was announced that the company has obtained a credit line of 600,000 million yen (5.811 million euros) of four major Japanese banks to multiply their funding streams at the loss of cash available in recent years.

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