Panasonic to sell remaining stake in semiconductor joint venture in face of 'aggressive' competition

Panasonic has announced it'll be selling off its minority stake in its semiconductor joint venture for $250M to Taiwan's Nuvoton Technology Corp after deciding it would need to invest more than it is prepared to do to compete and expand in the market. Back in 2014, Panasonic offloaded a majority of its semiconductor unit to a joint venture with Isreali semiconductor manufacturer TowerJazz. The joint venture, which is owned 51% by TowerJazz and 49% by Panasonic, was initially believed to be sold ...