Panasonic Sells 80% Stake In Projectors Business, But Staying In That Business
July 31, 2024 by Dave Haynes
A report from a few days back suggested Panasonic had fully sold its projectors business, however deal details now coming available indicate the Japanese electronics company has only sold a majority stake and intends to keep making and selling projectors.
The Japanese financial investor Orix is said to be paying the equivalent of around $630M USD for the ProAV business.
Content partners invidis report that Panasonic will set up its own company for professional projectors. Orix will hold 80 percent, Panasonic 20 percent. The projectors will continue to bear the Panasonic brand, and the new company will also initially bear the Panasonic name.
The plan is to launch the new company at the start of the Japanese fiscal year, in April 2025. To do this, the Media Entertainment Business Division will be separated from Panasonic Connect – including the large format display business. Panasonic’s own factories in Japan and China will also be transferred to the new company. Sales units for the new company will also be formed from the regional Panasonic Connect subsidiaries.
Panasonic is getting out of the projector business, except they are still in it ? Do they mean like Biden is getting out of the Presidential race…but not out of the business?