Panasonic to sell its chip unit to Taiwan's Nuvoton for $250 million
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TOKYO (Reuters) - Panasonic Corp said it would sell its loss-making semiconductor unit to Taiwan's Nuvoton Technology Corp for $250 million (195 million pounds) as the Japanese electronics giant struggles to lift its profit amid a lack of growth drivers.The sale is part of Panasonic's plans to cut fixed costs by 100 billion yen ($920 million) by the year ending in March 2022 by consolidating production sites and overhauling loss-making businesses.Panasonic has already divested most of its chip..