Panasonic to exit chip business in Japan

‘Panasonic’ the electronic king of Japan announced, that it is withdrawing from the semiconductor business and selling its unprofitable subsidiary to the firm in Taiwan as it faces extreme competition from South Korea and China.

The chip-making business of Panasonic ranked 10 in the world by sales.

In the era of 1980 and 1990, Japan-based Panasonic was regarded as a chipmaking powerhouse as it was a major busine....