Japan’s famous appliances and consumer electronics company Panasonic has taken a major decision on the Indian market. Now soon its refrigerator i.e. fridge and washing machines will not be seen in the country because the company is coming out of both these segments in India. According to the news agency PTI, a spokesman for Panasonic Life Solutions India said in a statement that the step is according to the company’s global strategy. Panasonic, Future Ready Growth Sections in India such as home automation, heating ventilation and cooling (HVAC), B2B solutions, electricals and energy solutions, etc. are rebupping operations.
He further stated that Panasonic will focus on HVAC-Commercial and Residential, and TV in its consumer business category as a part of Growth Strategy. The washing machine and refrigerator will shut down the categories. However, Panasonic Inventory will support dealers in liquidation and will continue to provide full service to customers with parts and warranty coverage.
Both refrigerators and washing machines in panasonic deficit in segment
Both refrigerators and washing machines for Panasonic in India have been a loss deal. The company is struggling to make its place in them. According to GFK data, the market share of Panasonic in both the refrigerator and washing machine segments is extremely low. Its market share in the washing machine is 1.8 percent and 0.8 percent in the refrigerator segment. In the last 6 years, Panasonic has been registering losses in both segments. In FY 2025, Panasonic India’s revenue stood around Rs 11,500 crore with overall growth of double digit.
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CEO announced in May
In May this year, CEO Yuki Kusumi, CEO of the Panasonic Group, said that the group plans to get out of the worldwide businesses worldwide to get rid of stagnation and to get ready for a strong and fresh growth for the future. Strategy was also mentioned for India. Kusumi said that the entire consumer business portfolio of Panasonic remains untouched. This portfolio includes AC, TV, MWO, kitchen appliances, beauty products, lumics cameras etc.
