Panasonic to Close Business Communications Arm

Panasonic has decided to close its Business Communications arm over the next two years.

The Japanese giant announced the decision in an email to partners yesterday, citing the increase in cloud-based solutions as a key factor in the decline of its business communications arm.

The email from Carlos Osuna, Head of Business Communications Business Unit at Panasonic, went on to state that Panasonic felt the future of the business was “untenable and unpredictable”, adding that a “mismatch” between factory assets and market demands and R&D activities that “lagged behind” its competitors, meant the business is running at a “constant financial deficit.”

Read more at source: UCToday

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