Consumer electronics reshuffle: Panasonic exits refrigerators and washing machines segment in India, to focus on HVAC and B2B

Japanese electronics main Panasonic has exited India’s fridge and washing machine segments as a part of a world restructuring technique, marking a shift towards extra worthwhile and future-ready verticals akin to HVAC, B2B, and dwelling automation.The two segments had been loss-making for the corporate in India, the place it struggled to achieve market share. According to GfK information, Panasonic’s market share stood at simply 1.8% for washing machines and 0.8% for refrigerators, with six consecutive years of gross sales losses reported in each classes.“This is in line with our global strategy and evolving market dynamics,” a Panasonic Life Solutions India spokesperson mentioned in an announcement, quoted PTI. “We will focus on HVAC – commercial and residential – and televisions in the Panasonic Consumer Business category, and discontinue washing machines and refrigerators.” The firm will assist sellers in liquidating current stock and will proceed to provide full customer support together with elements and guarantee protection, the spokesperson added.The choice follows a broader directive by Panasonic Group CEO Yuki Kusumi, who in May introduced plans to exit unprofitable companies globally in order to break stagnation and drive future development, PTI reported.For its India operations, Panasonic will proceed to make investments in key verticals akin to dwelling automation, electricals, vitality options, and B2B applied sciences. Its client electronics portfolio—spanning air conditioners, televisions, kitchen home equipment, magnificence merchandise, and Lumix cameras—will stay intact, the corporate clarified.“In our journey towards long-term sustainable growth, we acknowledge that the evolving business model has led to certain roles being restructured,” the spokesperson mentioned. “This is a difficult but necessary step, and we deeply appreciate the contributions of our impacted employees.”Panasonic India reported income of round Rs 11,500 crore in FY25, posting double-digit development total.