Panasonic to sell money-losing chip business to Taiwan firm

Panasonic Corp. said Thursday it will sell its chip business to Taiwan's Nuvoton Technology Corp. for $250 million next June as it steps up efforts to pull out of money-losing operations and focus more on growth areas.The electronics manufacturer will sell its shares in Panasonic Semiconductor Solutions Co. and Panasonic Industrial Devices Systems and Technology Co., both based in Kyoto Prefecture, as well as a joint venture it set up in Toyama Prefecture with Israeli firm Tower Semiconductor Ltd.Panasonic, based in Osaka Prefecture, said semiconductor-making operations in China and Singapo…READ FULL ARTICLE