Panasonic To Only Focus on HVAC and Home Automation in India

Panasonic

India: Japanese electronics company Panasonic has withdrawn from the refrigerator and washing machine markets in India as part of a global restructuring strategy. The move aligns with the company's focus on more profitable and future-oriented segments such as HVAC, B2B solutions, and home automation. A spokesperson from Panasonic Life Solutions India stated, "This is in line with our global strategy and evolving market dynamics." The company will continue to sell air conditioners and televisions under the Panasonic Consumer Business category and will discontinue washing machines and refrigerators.

In India, Panasonic will maintain investments in areas such as home automation, electricals, energy solutions, and B2B technologies. Its consumer electronics portfolio, including air conditioners, televisions, kitchen appliances, beauty products, and Lumix cameras, will remain unaffected. Moreover, Panasonic India reported revenue of approximately INR 11,500 crore (US$ 1.3 billion) in FY25, achieving overall double-digit growth.

Source: Times of India