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Panasonic In Talks To Buy Zkw To Accelerate Push Into Auto Electronics: Source

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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People pass television installation at Panasonic pavilion before start of IFA consumer electronics fair in BerlinBy Makiko Yamazaki TOKYO (Reuters) - Japan's Panasonic Corp is in talks to buy European automotive light maker ZKW Group, accelerating its push into the automotive electronics market, a person familiar with the matter said. An acquisition of ZKW would expand Panasonic's automotive lineup, which currently centers on batteries and navigation systems, as it shifts its focus to corporate clients to escape price competition from lower-margin consumer electronics manufacturers. Panasonic said in a statement the reported deal was not something it had announced, and declined to comment further.




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