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Panasonic nears deal to outsource TV production to China's TCL

Output to end in India and Vietnam as Japanese brand moves to restore profitability

Panasonic TVs on display at a store in Tokyo. The Japanese company sees great potential in China's home appliance market.
Panasonic TVs on display at a store in Tokyo.   © Reuters

OSAKA -- Panasonic is poised to outsource production of televisions to Chinese rival TCL, the world's third-largest TV maker, in the Japanese electronics group's latest move to cut costs in a segment where its brand has faded, Nikkei has learned.

The two sides are negotiating the scope of the production contract, with Panasonic aiming to reach an agreement as soon as next month.

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