Most likely a damaged speaker or speaker wire. Order the speaker ($3.00 plus shipping) from the panasonic parts website: https://panasonic.encompass.com/item/6090511/Panasonic/L0AD02A00026/Speaker.
DISASSEMBLY
1. Remove the batteries and two screws at bottom of the battery compartment (#0 phillips).
2. Separate the case with a thin bladed screwdriver. Note that the rubber phone jack cover will fall out, so set it aside for reassembly.
Check the speaker wire connections on the mother board and the speaker by lightly pulling on them with tweezers. If they pull loose, resolder and go to the REASSEMBLY steps. Otherwise, continue with the next step to remove the speaker.
3. Remove the speaker by rotating the white speaker lock. Set aside for reassembly. The speaker may require a bit of prying with a small screwdriver or other tool to come out of the back case. Also note the foam "hold down" strip for the speaker wires. Try not to damage it when you lift the speaker out onto the workbench.
4. Unsolder the speaker wires, noting the position of the red and black wires.
5. Carefully remove the foam pad on the speaker magnet with a single edge razor blade and set aside.
REASSEMBLY
A. Apply a drop of contact adhesive to the speaker magnet and replace the little foam pad you saved.
B. Apply a tiny amount of flux to the two solder points on the speaker, then place a drop of solder on each solder point.
C. Solder each wire to the solder points, being sure to get the red and black wires in the correct positions (see step 4 above).
D. Place the speaker back into the back case and lock down with the speaker lock.
E. Organize the speaker wires under the foam "hold down".
F. Replace the rubber phone jack cover into its slot in the side of the case.
G. Carefully align the case halves and snap back together.
H. Replace the two screws at the bottom of the bottom of the battery case.
I. Reinstall the batteries noting the correct polarity. You should hear a sweet chirp from the new speaker!
Your remote phone should be good for a few more years ... or until you drop it again.