After Sony, Multinational Panasonic Halts TV Production in Brazil and Lays Off Over 100 Employees

After Sony’s Exit in March, It’s Now Panasonic’s Turn, Which Confirmed Its Departure from the TV Market in Brazil by the End of the Year, Causing the Dismissal of Hundreds of Employees

Sony announced the end of its production and sale of TVs in Brazil in March, and now it’s Panasonic’s turn, which confirms its exit from the manufacturing of TVs and audio products by the end of the year. This departure has led the multinational to dismiss over 100 employees.

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130 Employees Dismissed by the End of the Year

Although the products are produced at the Manaus (AM) plant, the unit will continue its production of microwaves, electronic components, and automotive products.

With the end of the TV and audio sector, Panasonic will dismiss 130 employees by the end of the year. This total is equivalent to 5% of the company’s 2,400 employees in Brazil. In addition to the Amazon unit, Panasonic also controls a factory in Extrema (MG), where refrigerators and washing machines are produced.

At the company’s unit in São José dos Campos (SP), the factory for alkaline and zinc batteries is located. According to Panasonic’s Vice President, Sergei Apof, these are the company’s key differentiators, as they consume 40% less energy than required by Inmetro.

Lack of Investment Causes Sony and Panasonic to Exit the TV Sector

The news of Panasonic’s exit from the sector surprised analysts and retail networks. A source in the field emphasized that this market is experiencing intense competition, requiring significant investments in software, partnerships with video streaming companies, and connectivity.

It was this lack of investment that drove Sony out of the race in the sector, selling fewer and fewer devices, and now Panasonic’s exit. Currently, the companies leading the market in the country are the Korean giants Samsung and LG.

Meanwhile, various companies have started investing in products in the mid-range price segment starting at R$ 1,400. Recently, even Britânia, known for home appliances, announced its first models, followed shortly by Toshiba, which partnered with Multilaser. Conversely, Brazil has also welcomed a large influx of new companies, especially in the electronics sector.

Sony’s Exit from the Brazilian Market

On March 1, Sony announced the cessation of its commercial activities for TVs, cameras, and equipment in Brazil by the end of the same month. However, in the sector where Sony can be considered one of the leaders, namely video games, with PlayStation 4 and 5, which are imported, operations continued as usual, as well as other areas such as Sony Music and Sony Pictures.

The technical support for devices and product warranties have also been maintained for the necessary period, in accordance with regulations. This is not the first time the company has ceased manufacturing in Brazil. In 2019, the brand also decided to withdraw from the cell phone market in Brazil due to low sales of its cell phones worldwide.