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Japan's Panasonic to end solar panel production: domestic media

·1-min read
A man is reflected on Panasonic Corp's logo at Panasonic Center in Tokyo

TOKYO (Reuters) - Japan's Panasonic Corp will cease production of its own solar panels, national broadcaster NHK and the Nikkei newspaper reported on Sunday, reporting that the company's decision was due to increasing price competition from Chinese manufacturers.

The Nikkei reported that the company will end manufacturing of solar cells and panels as early as March at factories in Malaysia and Japan's Shimane prefecture.

In the future, Panasonic will source solar panels from other manufacturers, both the NHK and Nikkei said.

Reuters was not immediately able to reach a Panasonic representative for comment.

(Reporting by Mari Saito; Editing by Raju Goplakrishnan)