Mitsubishi Electric, a major electronics manufacturer, announced that it has terminated shipments of its LCD TV business to consumer electronics mass retailers and has significantly reduced its business.
According to the announcement, Mitsubishi Electric announced that shipments to consumer electronics mass retailers, which account for most of the sales of the LCD TV business, ended at the end of September.
On the other hand, shipments to affiliated stores with which the company has a direct contract will continue until March 2024, after which we will consider the situation.
Regarding the drastic contraction of the business, the company states that "it has become difficult to maintain product competitiveness due to rapid changes in the market environment and needs."
Approximately 500 employees are working at the Kyoto Works in Nagaokakyo City, Kyoto Prefecture, which was in charge of LCD TV development and quality control. It means to proceed with the relocation to.
Regarding the TV business, Hitachi has terminated domestic sales three years ago, and Panasonic has terminated domestic production, resulting in a series of withdrawals and contractions due to worsening profits.