Panasonic is reallocating capital from TV manufacturing to air conditioning, closing its Malaysia TV factory by March 2027 and 4x-scaling AC production capacity in India by 2028 through a ~700M baht investment. The shift reflects broader industry consolidation (outsourcing low-margin consumer electronics to Chinese partners like TCL) and focus on higher-growth markets with low AC penetration. Thailand SMEs in electronics assembly, component supply, or logistics should monitor supply chain reorientation in Southeast Asia and India.