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Panasonic eyes 5% growth [Khaleej Times (United Arab Emirates)](Khaleej Times (United Arab Emirates) Via Acquire Media NewsEdge) Japanese tech giant focuses more on B2B, relaunches Hi-Fi music brand Technics Panasonic Corporation, which is popularly known for its consumer electronics products, focuses more on B2B business, especially automotive segment as automakers look for new technologies for the future cars. The Osaka-based company is one of the largest electronic product manufacturers in the world, which manufactures and markets a wide range of products under the Panasonic brand to enhance and enrich lifestyles all around the globe. It's comprised of various business domain companies, from AV to home appliances, to industrial solutions and devices as well as other electronic products. Fiscal 2015 got off to a good start with better-than-expected first quarter results. The company recorded sales of ¥1,852.3 billion, more than ¥27.8 billion over FY14 Q1. The Japanese technology giant's automotive and industrial systems sales jumped two per cent to ¥680.4 billion for the first quarter ending June, 2014 of fiscal year 2015. This segment's sales contributed nearly 37 per cent of the total sales in Q1. Likewise the sales of appliances rose one per cent, Eco solutions four per cent and AVC Networks one per cent, recording a consolidated total sales jump of two per cent. "We have a very wide range of products and today consumer products in Panasonic is about 25 per cent of the group's turnover," Laurent Abadie, chairman and chief executive officer, Panasonic Europe, told Khaleej Times in an interview. Panasonic aims to earn ¥330 billion in fiscal 2018 in its home appliance sales in Europe, up about 20 per cent from ¥280 billion planned for fiscal 2014, according to the company. Abadie revealed that the company is ahead of its current fiscal year target of operating profit. "In the first quarter [of fiscal 2015] it was 4.4 per cent and we might be close of five per cent at the end of this fiscal year," he explained. Talking about B2B segment, he said there are a lot of categories including automotive, security, broadcast, and audio and video etc. "We have got quite a big range in the market and the non-consumer products contribute 75 per cent of the group's total sales and it's a lot," Abadie explained. He mentioned that majority of the airlines including Emirates and Etihad Airways are equipped with Panasonic inflight entertainment. "We provide equipment, solutions and service," he explained. Since its B2B business, so Panasonic is not visible there, he added. Talking about the focus area, he said: "Automotive industry is very important in Europe and it's growing a lot as we have quite large and powerful automakers here. Especially, German and UK manufacturers are looking for new technologies for the future." Giving examples, he said that innovative batteries and energy management technologies, advanced driving assistance system including safety and all sorts of connected entertainment technologies are required for the future cars. "Car industry is facing revolution with new electronic solutions in the car. Internet connection is required for connected car in addition to other electronic devices and sensors to support the driver," he explained. US electric automaker Tesla Motors uses Panasonic batteries in its cars. Earlier this month, the automaker announced to build the world's largest lithium-ion battery plant in Nevada. Tesla will run operations while Panasonic will make battery cells destined for the plant and invest in equipment and machinery. With a full single charge of Panasonic battery, electric car can travel 500 kilometres, according to the company. Panasonic showcased Tesla car with Panasonic battery at its pavilion during the recently concluded IFA exhibition in Berlin. Talking about other big segments, Abadie said housing is another important segment, mainly in Japan. "We are building very unique and modern houses in terms of technology, energy saving, energy production and energy storage," he explained. Under the theme of "A Better Life, A Better World," the Panasonic presented new experiences and value-added products and services that make life better, from digital AV equipment and home appliances to solutions for businesses at the IFA exhibition. The company presented sophisticated lifestyles of the near future, taking full advantage of the company's diverse range of products. Through demonstrations, Panasonic proposed new benefits that home electronics and household appliances can create in daily living spaces, including kitchen and living room. Panasonic announced at the show the return of a famous Hi-Fi brand from the past, namely Technics, reviving its brand long synonymous with high-quality Hi-Fi sound to deliver richer, emotionally-engaging sound and musical experiences. It is six years since the name was last seen, and the announcement was made at the show by Technics project director Michiko Ogawa — a former Technics engineer. A professional jazz pianist in Japan, Ms Ogawa said that the basis of the new products was a concept called Technics Definitive Sound, which she said is built on decades of know-how. New Technics-branded Hi-Fi audio systems will be released first in the European market in December 2014 and later in other parts of the world including the Middle East. The company launched only two systems with price of €4,000 and €40,000. Mid-range products will be introduced next year, according to the company. — [email protected] (c) 2014 Khaleej Times. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info). |