Panasonic to sell off projector division

A report by Nikkei Asia has said that Panasonic plans to exit its projector business to focus on digital supply chain systems.

Panasonic Connect will decide on a buyer for the business as early as June the report goes on to say, with an estimated sale price of 80 billion yen ($510 million, €470m).

The sale will raise funds for expanding Panasonic Connect's systems business, a priority area for growth centered on Blue Yonder, a U.S.-based developer of supply chain software.

The Japanese financial services group Orix is said to have shown interest as a possible buyer for the projector business, as has at least one international investment fund.

The company has not disclosed the most recent annual sales for the projector businesses, but the media and entertainment segment, which includes projectors, reported 111 billion yen in sales for the year through March.

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