The Japanese electronics giant was forced to pull the plug on local production in the two countries due to a sharp decline in TV prices in North America and China, the Nikkei newspaper said.
The move will see Panasonic cutting back overseas production by 700,000 units a year, representing about 10 percent of worldwide output, the business daily said.
In China, the firm stopped production at an 80 percent-owned joint venture in Shandong Province on Friday, the newspaper said. The company plans to liquidate the venture with the several hundred workers there likely to be laid off, the daily said.
It will continue to sell TVs in China by outsourcing production for the roughly 200,000 units a year that it used to manufacture in-house, it said.
In Mexico, Panasonic is expected later this year to sell a plant that has annually churned out about 500,000 units mostly shipped to the US market, the Nikkei said.
