Panasonic Aims To Be A Solution Technology Firm In The Coming Years

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Recently, Panasonic has merged its two verticals – welding business and SMT equipment business to offer integrated smart manufacturing solutions.

Home appliance and consumer electronics maker Panasonic India is aiming to position itself as a solution technology company in the coming years rather than being a product company, a top company official said to PTI.

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Panasonic India has identified five pillars to drive growth, which includes – growing consumer business, developing solutions for living spaces, coming out with products and technology solutions in the supply chain segment and expanding energy business. 

A strong growth plan
As part of its strategy, Panasonic is expecting an increased push from its consumer durable business in its revenue in the coming years along with a special focus on its solutions business which may contribute almost one-fourth of its B2B business in the next five years. 

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Panasonic India, which is expecting a revenue of Rs 12,000 crore this fiscal, would also expand its retail footprint focusing tier-III and IV places and introduce products catering those small markets with local R&D push as per its strategy.

Panasonic, which had marginal growth in its sales number in the last fiscal to Rs 10,300 crore impacted by factors which include low demand, weak rupee etc, now expects over 15 per cent increase to Rs 12,000 in the current fiscal. 

Recently, Panasonic has merged its two verticals – welding business and SMT (Surface Mount Technology) equipment business to offer integrated smart manufacturing solutions.

It has integrated smart homes solution, a new vertical created by Panasonic and is bringing connected solutions for the home with its step down firm Anchor Electricals. Panasonic aims to leverage the diversity of the portfolio of the company.

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