Panasonic Mobile to Restructure
Japan’s Matsushita Electric will end production of current generation mobile phones for overseas markets, cut more than 1,000 related jobs and focus on developing 3G phones, company sources said. The world’s top electronics maker, known for its Panasonic brand, will close a factory in the Philippines and a development facility in the United States as part of its plan to refocus its resources on phones for next-generation networks, they said. Matsushita said it planned to hold a news conference today in Tokyo. Yoshiaki Kushiki, president of Panasonic Mobile Communications, will attend.