Panasonic before saying goodbye: the end of an era in the TV market?
Panasonic before saying goodbye: the end of an era in the TV market?
Japan - Panasonic is faced with an important decision in the highly competitive television world. The traditional group is seriously considering selling or reducing its television division because the competition grows continuously through inexpensive models from China. President Yuki Kusumi announced that Panasonic is not only affected in the TV sector, but also in three other businesses. With a drastic plan of measures, the company wants to achieve profits by the end of the financial year 2026 and is planning to retreat from unprofitable markets, as Asahi reported.
ruthless competition and shrinking market shares
The Situation for Panasonic in the television area is alarming: in Japan, the company's market shares are almost halved within one year. In 2018, Panasonic took 16.8 percent of the market, while in 2024 only 8.8 percent occurred. The company positions this in sixth place in the market, behind foreign companies such as the Hisense Group, which is a leader of 25.4 percent. The increasing prices and the increasing demand for cheaper televisions have given the international manufacturers and brought the former show product from Panasonic into a precarious location, reported OE24
Although Panasonic made headlines on the CES 2025 with new OLED models, the future of the TV division is uncertain. Management has announced that measures to increase efficiency, including early retirement offers for employees in the 2025 financial year. For the current financial year, a decline in sales by 2 percent to 8.3 trillion yen (approx. 54 billion US dollars) is forecast, together with an estimated decline in net profit by 30 percent. This strategy aims to increase profitability by at least 150 billion yen by 2026.
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| Ort | Japan |
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