In a major strategic shift, Panasonic India has announced its exit from the refrigerator and washing machine segments, marking a significant downsizing of its consumer electronics portfolio in the country. The move is part of the company’s global restructuring plan aimed at prioritizing high-growth, tech-driven verticals.
Why the Exit?
Panasonic struggled to gain traction in India’s highly competitive white goods market, holding just 1.8% share in washing machines and 0.8% in refrigerators, far behind Korean and Chinese rivals like LG, Samsung, and Haier. The company will shut down production lines for these products at its Jhajjar factory in Haryana, which will now operate as a contract manufacturing unit.
What’s Next for Panasonic India?
Going forward, Panasonic will sharpen its focus on:
- Televisions and air conditioners—categories where it retains a strong market presence
- Smart home automation
- Heating, ventilation & cooling (HVAC)
- B2B solutions, electricals, and energy systems
“We are rebuilding operations in India to focus on future-ready growth segments,” a Panasonic India spokesperson said.
Impact on Workforce and Dealers
The restructuring is expected to result in high double-digit layoffs, though Panasonic has committed to supporting affected employees with redeployment and transition assistance. The company also assured continued after-sales service, including warranty and spare parts support, and will help dealers liquidate existing inventory.
Global Context
This move aligns with Panasonic Holdings’ broader plan to cut 10,000 jobs globally, streamline operations, and exit unprofitable businesses amid a slowing global economy and weaker EV demand.
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