New Delhi: Panasonic has decided to stop selling refrigerators and washing machines in India. The company took this step as both categories were not doing well and had been making losses for the last six years.
As per research firm GfK, Panasonic’s market share in India was very low—just 1.8% in washing machines and 0.8% in refrigerators.
Part of a Global Plan
This move is part of Panasonic’s bigger global plan to stop investing in loss-making businesses. In May, Panasonic Group CEO Yuki Kusumi said the company is working on cleaning up its global operations. The goal is to stop losing money and focus on areas that can grow faster in the future.
Focus Now on High-Growth Areas
In India, Panasonic will now focus on fast-growing sectors such as:
Home automation
Heating, Ventilation, and Air Conditioning (HVAC)
B2B solutions
Electricals and energy solutions
In the consumer space, Panasonic will continue to sell products like air conditioners, TVs, kitchen appliances, microwave ovens, beauty gadgets, and Lumix cameras.
Support for Customers and Dealers Will Continue
Panasonic has promised to fully support customers who have already bought its refrigerators and washing machines. This includes warranty coverage, spare parts, and customer service.
The company will also help dealers clear out old inventory through liquidation support.
Tough But Necessary Decisions
Panasonic India said that some roles within the company are being restructured as part of this shift. While this is a tough decision, the company said it is important for long-term sustainable growth. Panasonic thanked employees whose roles have been affected.
Strong Revenue Despite Exit
Despite these exits, Panasonic India is still growing. In the financial year 2024-25, the company earned around ₹11,500 crore in revenue, showing double-digit growth.
(With PTI Inputs)
