Panasonic Co. stated that it will halt the production of Li-ion batteries at its factory in Beijing as of August 2015 cutting about 1,300 jobs. That particular factory has been producing compact batteries for digital cameras and smartphones. Their profitability has taken a hit due to severe price competition.
Panasonic runs two battery factories in China. One is in Sozhu and the other is in Muen. The company will continue its production at those sites.
