Skyworth Group’s takeover of part of Panasonic’s TV business will facilitate its entry into high-end international markets, though uncertainties persist over its ability to compete with global industry leaders that have already established a strong presence there, industry insiders said.
The Chinese home appliance manufacturer announced earlier this week that it will take over Japanese electronics giant Panasonic’s TV business in North America and Europe starting from April.
The Shenzhen, Guangdong province-based company said it has forged a strategic partnership with Panasonic, under which it will be responsible for the sales, marketing and logistics of the latter’s TV business in the two international markets.
Skyworth will drive the development of Panasonic’s international TV business by leveraging its core strengths in manufacturing, research and development (R&D), operations and international sales. Meanwhile, Panasonic will focus on audiovisual R&D -- an area where it has long excelled -- and continue to provide high-quality products and services. The two companies will also carry out joint development of high-end OLED TV models.
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Panasonic will retain management of its TV business in its home market and stated that it will explore appropriate business models for other markets.
The tie-up aligns with the two companies’ commitments in technological innovation, quality and globalization, and marks a key step in following industrial transformation and enhancing global core competitiveness, Zhang Hongjun, president of Shenzhen Chuangwei-RGB Electronics Co Ltd, Skyworth Group’s subsidiary of TV business, said.
The deal marks a milestone in Skyworth Group’s globalization push. The home appliance supplier previously acquired German electronics maker Metz and Vienna, Austria-based consumer electronics firm Strong, strengthening its presence in the European market.
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Overseas markets have become a key driver of Skyworth’s business growth. According to its 2025 interim results, the group’s overseas operating revenue reached 8.05 billion yuan, a year-on-year increase of 7.1 percent.
Skyworth’s partnership with Panasonic came on the heels of a memorandum of understanding signed last month between Chinese home appliance maker TCL Electronics Holdings Ltd and Tokyo-based Sony Corp.
Under the agreement, the two companies will establish a joint venture, with TCL holding a 51 percent stake and Sony 49 percent, and the new entity will take over Sony’s home entertainment business.
Back in 2017, Japan’s Toshiba sold its TV unit to Chinese home appliance manufacturer Hisense.
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“Japanese firms’ withdrawal from the TV business reflects the loss of their core technological advantages, as their slow product updates fail to meet the demands of the fast-changing consumer market,” said Liang Zhenpeng, an independent consumer electronics analyst.
For Skyworth, its international market size remains relatively small compared with South Korean electronics giants Samsung and LG. “Acquiring Panasonic’s TV business will not only drive Skyworth’s own growth but also help it better tap into the high-end markets in the United States and Europe,” Liang added.
He noted that Skyworth’s key strengths lie in manufacturing cost control and supply chain management, but the company faces major challenges in efficiently operating the Panasonic brand in overseas markets and overcoming global competitors that have already secured a firm foothold.
Dong Min, secretary-general of the China Video Industry Association, said the global TV market is evolving into a new landscape led by Chinese and South Korean companies.
Establishing partnerships with international industry players with prominent brands and technological strengths is an effective way for Chinese TV enterprises to expand their overseas market share, Dong added.
