Maxell will stop producing square lithium-ion batteries, used in smartphones and gaming consoles, by May 2025 and dissolve its Chinese manufacturing subsidiary, Wuxi Maxell Energy Co., Ltd. The company announced on March 24 that it expects a notable loss of approximately JPY2.8 billion (US$18.74 million) for the fiscal year 2024 due to the closure, reports Nikkei and Jiji.