KUALA LUMPUR (July 30): Panasonic plans to stop making televisions in Malaysia by September and close its plant by March 2027, eliminating roughly 400 jobs, Nikkei Asia reported.

Other products made at the plant will be shifted to other facilities, the Japanese newspaper said. Blu-ray disc player production in the country will end by September while audio products such as analog turntables will be transferred to another Panasonic company in Malaysia by February 2027.

Panasonic does not yet have a buyer for the facility it plans to close, though the company plans to continue selling TVs and audio products in Malaysia, Nikkei Asia said.

The Japanese electronics company, along with other manufacturers, is facing pressure from a flood of cheaper Chinese goods. Global brands are also increasingly outsourcing their productions to China.

Sales operations for Panasonic products for Europe and the US have been transferred to Chinese home appliance maker Skyworth Group. Panasonic TVs now made in Malaysia are expected to be handed off to such contractors as well, Nikkei Asia said.

Taiwan will become home to Panasonic's only remaining in-house TV production, mostly for the local market, where it has a strong share, the newspaper added.