Panasonic

Panasonic India eyeing white goods PLI, new plant to tap market potential

Panasonic's expansion is aimed at shifting operations from Japan-led to India-led. CEO Tadashi Chiba indicates that Indian teams already handle global services, and the model will be strengthened

Panasonic exits refrigerator, washing machine segments in India amid losses

Panasonic is exiting from the refrigerator and washing machine segments in India, as part of global restructuring of business by the Japanese appliances and consumer electronics major. Both the refrigerator and washing machine segments were a loss-making businesses for Panasonic in India, where it was struggling to make a space in the market. According to GFK numbers, Panasonic has a very low market share in both refrigerators and washing machine segments. In washing machines, its share was 1.8 per cent and it was 0.8 per cent for refrigerators. In both the segments, Panasonic was reporting losses in sales over the last six years. When contacted, Panasonic Life Solutions India spokesperson in a statement said this is in line with its global strategy. "In line with our global strategy and evolving market dynamics, Panasonic in India is rebuilding operations to focus on future-ready growth segments such as Home Automation, Heating Ventilation & Cooling (HVAC), and B2B solutions, ...

Panasonic to cut 10,000 jobs globally as profits fall, demand weakens

Panasonic will slash its global workforce by 10,000 people, half in Japan and half overseas, to become a more efficient, lean company, the Japanese manufacturer said Friday. The job cuts, amounting to about 4% of its 230,000 workers, will include early retirement offers in Japan and closures and consolidation of various operations, according to the Osaka-based maker of home appliances, such as washing machines and refrigerators. Panasonic also makes solar panels, delivery robots, facial recognition technology, fuel cells for homes and EV batteries for Tesla cars. Also Friday, Panasonic reported a 17.5% drop in profit for the fiscal year through March at 366 billion yen ($2.5 billion), down from 443 billion yen in the previous fiscal year. It sales totaled 8.46 trillion yen ($58 billion), down 0.5% year-on-year. The company said the slowing global economy and weaker demand for electric vehicles were a factor behind its weak results. But sales of air-conditioners and consumer ...

Panasonic expands startup partnerships to adopt new tech in its products

Panasonic aims to co-create scalable solutions, integrating startup innovations into its product line-up to lead the next wave of intelligent living, according to the company chief innovation officer

Panasonic raises battery unit's outlook, pursues group management reform

The company will also seek to improve group profitability by more than 300 billion yen ($1.93 billion) and achieve a return on equity of over 10 per cent by the fiscal year ending March 2029

Panasonic Life Solutions India acquires land parcel in Mumbai for Rs 160 cr

The land, spanning approximately 6,586.90 square metres, was purchased from River Rose Developers LLP, as per the registration documents

CES 2025: Panasonic's new flagship OLED TV has Amazon Fire TV built-in

Panasonic Z95B Series OLED TV is also compatible with Apple's ecosystem, allowing users to stream from their iPhone, iPad, or Mac

Tesla supplier Panasonic Energy to cut dependence on China for EV batteries

Panasonic Energy, which supplies batteries to Tesla and other automakers, is a unit of Japanese electronics giant Panasonic

Japan's Panasonic energy unit finalises prep for 4680 EV battery production

The bigger 4680 cells will allow automakers to extend the driving range of electric vehicles and use fewer cells to achieve the same battery pack capacity, Panasonic Energy said in a statement

Panasonic Energy India Q1 results: Net profit grows to Rs 4.14 cr

Panasonic Energy India Company Ltd (PECIN) on Monday reported a profit after tax of Rs 4.14 crore in June quarter, up from Rs 2.59 crore in the year-ago period. The company' total income fell to Rs 64.18 crore in the first quarter of this fiscal from Rs 77.48 crore in the April-June period of preceding 2023-24 financial year, Panasonic Energy India said in an exchange filing. During the reporting quarter, the company reduced expenses to Rs 58.55 crore from Rs 74.02 crore in the three-month period a year ago. In a separate statement, Akinori Isomura, Chairman and Managing Director, PECIN, said, "Last two years have charted a turnaround story for company's operations and we have been reporting a consistent growth in profit. The slight dip in revenue this quarter is on account of a large B2B one time order that we won last year, so if we look at the overall sales growth in insolation of this order, we have recorded a 7 per cent growth." Part of Panasonic Holdings Corporation, Panasoni

AC sales may touch new record of 14 mn units by end of 2024: CEAMA

The blistering heatwave this year has skyrocketed the demand for room air-conditioners across the country, expecting a record annual sale of around 14 million units, according to the Consumer Electronics and Appliances Manufacturers Association. The industry had "record-breaking figures" for sales of air-conditioners in May and expects a surge of 30 to 40 per cent in volume growth in summers alone, Consumer Electronics and Appliances Manufacturers Association (CEAMA) President Sunil Vachani told PTI. Soaring temperatures and heat waves have now made AC a "quintessential requirement" for households across urban areas, he said. The Indian AC market is also evolving helped by energy-efficient models that are suitable across income brackets and by investment by the companies in indigenous manufacturing units of components. "As the market evolves, we expect annual sales volumes to be around 14 million units, highlighting the sector's robust expansion," Vachani said. The Indian resident

Panasonic to form JV with IOCL to make cylindrical lithium-ion batteries

Panasonic Group will form a joint venture with Indian Oil Corporation Ltd (IOCL), the nation's biggest oil firm, to manufacture cylindrical lithium-ion batteries. Panasonic Energy Co Ltd, a group firm of Japan-based multinational electronics company, has signed a binding term sheet and initiated discussions with IOCL "to draw a framework for the formation of a joint venture" to manufacture cylindrical lithium-ion batteries, said a statement on Sunday. "This initiative is driven by the anticipated expansion of demand for batteries for two- and three-wheel vehicles and energy storage systems in the Indian market," it added. Cylindrical lithium-ion batteries are commonly used in consumer electronics, power tools, and electric vehicles. Panasonic Energy is a maker of automotive lithium-ion batteries. The two companies are engaging in a feasibility study regarding the utilisation of battery technology to facilitate the transition to clean energy in India, the statement said. The compan

Panasonic to sell entire stake in autos biz to Apollo Global Management

Panasonic said it will also acquire a 20% stake in Star Japan Holdings, the company which will own the new parent company of PAS

GM, Panasonic sign investment deals with Canadian graphite producer

GM and Panasonic have each committed to purchase 18,000 metric tons of active anode material annually over a period of six to seven years, Nouveau Monde Graphite said in a statement Thursday

Panasonic unveils smart, IoT powered models across inverter AC range

Panasonic on Monday launched its 2024 line-up of air conditioners, with 60 new models mostly across inverter AC range. This also includes India's first matter-enabled room ACs, powered by its IoT platform Miraie, a statement from Panasonic Life Solutions India (PLSIND) said. A matter-enabled device can be set up in a few seconds, connecting it to customer's network, smart speakers, ACs. We developed and manufactured our new range of ACs, keeping the evolving needs of our consumers in mind. The new line-up of ACs, comprising India's first matter-enabled RACs will not only provide inter-operability but, is also simple to use, reliable and secure," said Managing Director Fumiyasu Fujimori. PLSIND is a subsidiary of Japan's Panasonic Holdings Corporation.

PLI scheme for ACs game changer for industry: Panasonic Life Solutions

The Production Linked Incentive (PLI) Scheme for the air-conditioner industry is proving to be a "game changer" as within a year and a half of its launch, the ratio of domestic value addition has gone up significantly to 45 per cent from 25 per cent, a top Panasonic Life Solutions India official has said. The sole objective of the PLI scheme for air-conditioners was to increase the value addition to 75 per cent from 25 per cent by FY28 by encouraging the domestic production of components, Chairman of Panasonic Life Solutions India and South Asia Manish Sharma said. "A jump from 25 to 45 has happened just in about more than a year. So, that is the change, which is happening, and that is why I feel that the PLI has been a game changer, specifically in the air conditioners industry," Sharma, who also heads the Electronics Manufacturing Committee of industry body Ficci, told PTI. Investments in heat exchangers, compressors and other components, which are part of the PLI scheme for ...

Panasonic Electric eyes 50% share in India's wiring devices mkt by 2030

Panasonic Electric Works India (PEWIN) -- a subsidiary of Panasonic Life Solutions -- aims to capture 50 per cent market share of India's wiring devices market by 2030, a top company official said. "Over the next five years, our focus in India will be on significantly expanding our market share," Toshinobu Kawasaki, Joint Managing Director, Panasonic Electric Works India, told PTI. "Specifically, by 2030, we aim to capture a 50 per cent market share in the wiring device business," he said. "We are also targeting substantial growth in our core business areas, such as switchgear and lighting. This ambitious plan reflects our commitment to strengthening our position in the market and continuing to deliver quality and innovation in these key segments," Kawasaki said. Wiring devices include products such as switches, plugs, lighting control devices, time switches, and provide connection points for outlets, lighting, and appliances to save energy and manage power. Asked if the company i

Panasonic eyes double-digit growth in FY25, sees India as export hub

Panasonic expects a "double-digit" growth in the Indian market this fiscal while the company prepares to tap the long-term potential of the country by bringing high-tech products, besides making it an export hub. India is among three important regions for firm headquartered in Osaka, Japan, and it is in the process of building and bringing many more products and high-tech solutions which did not exist in the past in this country, said Chairman of Panasonic Life Solutions India and South Asia Manish Sharma. Panasonic Corporation is "heavily committed" to the Indian market as its "long-term potential is very high" because of a lower penetration of products in the country, providing enough space to grow, he said. The company is working on India-specific innovations for its business verticals such as consumer appliances, electric boxes (wire and wiring devise), supply chain where it provides smart factory solutions, industrial devices and energy business in which it is offering ...

Panasonic will invest another Rs 300 crore in Andhra facility by 2026

Panasonic Electric Works India (PEWIN) will invest another Rs 300 crore to increase capacity at its unit in Sri City, Andhra Pradesh, company officials said on Friday. The Japanese company is looking to use the facility for exports and will primarily target the Middle East and African markets, they told reporters here. "We have invested Rs 300 crore as part of the first phase of the project, and will be investing another Rs 300 crore by 2026," PEWIN Director for power business unit, Rajesh Nandwani, said. At present, the overall production capacity of the company, which operates plants in Daman and Haridwar as well, is 62 crore pieces per year, which will grow to 70 crore by 2025 and 100 crore by 2030, Nandwani said. The company produces various products such as switches and switchboards. PEWIN Managing Director Yoshiyuki Kato said the company's revenues stood at Rs 5,100 crore in FY23, and is aiming to increase it three times by 2030 because of the opportunities it sees ...

Tesla battery supplier Panasonic in talks to set up plant in India

The carmaker has asked its other battery suppliers also to initiate talks for hubs