Panasonic announced on Monday that it would dissolve its liquid-crystal display panel unit, shedding the burden of a long-standing surplus and accelerating its shift to producing electric vehicle (EV) batteries.
Panasonic will also reduce its tax burden by 121.3 billion yen by forgoing a 580 billion yen loan owed by its LCD unit to another subsidiary. The company had previously made provisions for losses on loans. As a result, Panasonic has revised up its outlook for the year ending March 2024, with net profit now expected to rise 73 percent from the previous year to 460 million yen, 110 billion yen higher than its previous forecast and a record high. Sales and operating profit remained unchanged. Panasonic's LCD panel division, located in Himeji City, Hyogo Prefecture, used to produce LCDS for automotive and industrial applications, but the plant will be directly owned by the parent company and planned to be transformed into a production base for electric vehicle batteries. According to the data, Panasonic announced in November 2019 that it will exit theLCD panel manufacturing business by 2021. According to the report, the intensified competition with Chinese manufacturers has led to the deterioration of profits, and the company believes that it is difficult to maintain: "Based on the fierce competition and changes in the environment, I had planned to invest in new product development, but in the end, I think it is very difficult to continue to implement." It is reported that after the withdrawal of Panasonic's LCD business, its LCD panel manufacturing plant in Hyogo Prefecture will be transformed into a car battery factory. Previously, Panasonic had built an 8.5-generation LCD production line in Himeji City, Hyogo Prefecture, but due to production costs, the utilization rate of Panasonic's LCD production line was not high.
Gestant Display Technology Co.,Ltd. could provide a series of LCD and OLED products, such as AMOLED Screen, PMOLED Screen, Round Display Screen, Flexible Display Screen, TFT LCD, Mono-LCD and Bar Display Screen. Customize PCBA/LCD/OLED/FPC/Backlight/Coverlens/TP solutions.
Gestant Display Technology Co.,LTD was founded in 2012 in Shenzhen China. Even, the founder of the company, has more than 15 years of rich experience in LCD display industry. He has been engaging in the basic research of LCD display technology in Japan since his graduate school and has been working in the flat panel display industry after graduation.
Proficient in the manufacturing process and technology development of LCD / OLED / polarizer, Even was also one of the members of China liquid crystal Association who has a senior industry background and supply chain resources. In the past three years, he assisted his shareholders in building factories, purchasing equipment，establishing production lines, and successfully obtaining ISO9001 and ISO14001 system certificates.
He has established good business relations with major panel manufacturers in China (BOE /Tianma / IVO /EDO / Visionox), and the glass supply is stable and sufficient.
Gestant Display's products are widely used in Smart wear，Smart home，Outdoor photography，IP phones, Medical care, Industrial control equipment, Automotive and Vehicle displays, Instrumentation, and other Information terminal applications which could offer long-term after-sale services(such as 2 years quality warranty, long-term supply) .