Panasonic Aims to Maintain 10-15% Growth in India
India: Panasonic is targeting a growth rate of 10-15% in India for 2024, driven by rising demand across various product categories for both individual and business consumers. The company reported a turnover of approximately INR 100 billion (USD 1.2 billion) last year in India, with nearly half of that from electric works and around 25% from HVAC solutions, including air conditioning systems. Other consumer electronics, such as refrigerators, microwaves, and washing machines, are also contributing to the growth.
Panasonic is witnessing a surge in demand for smart, energy-efficient products tailored to enhance supply chain efficiency in India. The company is focusing on delivering value propositions across B2B and B2C segments, reflecting a shift from price sensitivity to value consciousness in the market. To address this, Panasonic is expanding its product lineup in consumer durables. In addition to its existing offerings, Panasonic is enhancing its IoT and AI-enabled platform, Miraie, to provide more connected solutions.
Source: The Telegraph