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Panasonic pares TV business to bone with TCL outsourcing

Former giant down to 5% of peak production after years of decline

Panasonic will continue to make high-end TVs for its home market of Japan. (Photo by Tomoki Mera)

OSAKA -- Panasonic will drastically scale back its television business as it shifts production to Chinese manufacturer TCL, shuttering two of its remaining four factories to cut costs in a business that is no longer a consistent moneymaker.

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