It was last reported that Panasonic is making a comeback with its smartphones outside of Japan after the it pulled out of the overseas mobile phone markets in 2006 due to stiff competition.
The latest report claims that Panasonic plans to move its mobile phone production unit to Malaysia, Beijing and some will be outsourced to overseas manufacturers. Panasonic still manufactured more than half of its mobile phones in Japan currently.
The Nikkei reported that Panasonic sold around 5 million handsets in the just-ended fiscal term, making it the No. 3 domestic manufacturer behind Sharp Corp and Fujitsu Ltd. The company hopes to triple sales to 15 million units by 2016.
Panasonic plans to re-enter the mobile phone market in April, introducing smartphones in Europe. It recently named Kazuhiro Tsuga, 55, as its new president in February.