THIS Popular Brand Exits Fridge And Washing Machine Market In India Due To….; Company To Now Focus On…, It Is…. | Economy News
New Delhi: Panasonic has decided to stop selling refrigerators and washing machines in India. This marked a big shift in strategy for the market. While its other products will still be available, this move has surprised many and could impact jobs. Interestingly, the exit has turned into a win for rivals Whirlpool and Voltas, whose shares jumped after the news broke on June 26.
Why Panasonic Is Exiting Two Key Categories
Panasonic struggled to gain a strong foothold in India’s refrigerator and washing machine market, as per a report by The Economic Times. That’s why the company has decided to pull out of these two categories. A Panasonic spokesperson confirmed the move. They added that the company has also stopped production of these items at its Jhajjar factory in Haryana. However, the factory isn’t shutting down—it will continue making products for other brands through contract manufacturing.
What’s Next for Panasonic in India?
Focus Areas: Panasonic will now concentrate on faster-growing segments in India like:
Home automation
– Air conditioners (ACs)
– B2B (Business-to-Business) solutions
– Electrical and energy solutions
Support for Dealers: The company will assist its dealers in clearing out the remaining stock of refrigerators and washing machines.
Customer Support Continues: Existing customers need not worry—Panasonic will continue to offer warranty and service support for fridges and washing machines already sold.
Job Cuts on the Way
As part of its business restructuring in India, Panasonic will be letting go of several employees. The company has acknowledged that the decision is tough but says it’s necessary for long-term growth. Panasonic has assured that it will support the affected workers during this transition. Despite the job cuts, the company will continue to sell TVs, air-conditioners, and other major products in India.
Products Panasonic Offers in India
Panasonic offers a wide range of products in the Indian market, both online and in physical stores. Its home appliance lineup includes air-conditioners, microwave ovens, water purifiers, mixer-grinders, electric cookers, and until recently, refrigerators and washing machines.
In the entertainment segment, it sells TVs, headphones, cameras, and home-theatre systems. The company also offers personal care gadgets like electric shavers, hair dryers, and toothbrushes. In addition, Panasonic provides energy solutions such as solar panels, batteries, and inverters, along with car batteries and accessories. For businesses, it offers equipment like projectors, office phone systems, and security cameras.
