Panasonic to source H.K. batteries

Kyodo

Struggling electronics maker Panasonic Corp. plans to procure small lithium-ion batteries for smartphones from a Hong Kong firm, sources said Friday.

Sales of the batteries made by Amperex Technology Ltd., a Hong Kong-based subsidiary of TDK Corp., might start by the end of the fiscal year ending next March under the Panasonic brand, the sources said.

Panasonic aims to minimize the risk of holding excess inventory by procuring low-cost batteries from outside in line with demand, while enhancing production of automobile batteries.