Panasonic abandons smartphones

Japanese electronic giant Panasonic said Thursday it will abandon research into new smartphones for retail consumers at home as it struggles to make inroads in a sector dominated by Apple and Samsung.
The move comes two months after competitor NEC said it was pulling out of the market citing tough competition.
"We will suspend developing new smartphones for the business-to-consumer market in Japan, and instead will pour our business resources into smartphones for the business-to-business market that is expected to grow," Panasonic said in a statement.