Consumer electronics reshuffle: Panasonic exits refrigerators and washing machines segment in India, to focus on HVAC and B2B – OXBIG NEWS NETWORK-OxBig News Network

Japanese electronics major Panasonic has exited India’s refrigerator and washing machine segments as part of a global restructuring strategy, marking a shift toward more profitable and future-ready verticals such as HVAC, B2B, and home automation.The two segments had been loss-making for the company in India, where it struggled to gain market share. According to GfK data, Panasonic’s market share stood at just 1.8% for washing machines and 0.8% for refrigerators, with six consecutive years of sales losses reported in both categories.“This is in line with our global strategy and evolving market dynamics,” a Panasonic Life Solutions India spokesperson said in a statement, 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 company will support dealers in liquidating existing inventory and will continue to offer full customer service including parts and warranty coverage, the spokesperson added.The decision follows a broader directive by Panasonic Group CEO Yuki Kusumi, who in May announced plans to exit unprofitable businesses globally in order to break stagnation and drive future growth, PTI reported.For its India operations, Panasonic will continue to invest in key verticals such as home automation, electricals, energy solutions, and B2B technologies. Its consumer electronics portfolio—spanning air conditioners, televisions, kitchen appliances, beauty products, and Lumix cameras—will remain intact, the company 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 said. “This is a difficult but necessary step, and we deeply appreciate the contributions of our impacted employees.”Panasonic India reported revenue of around Rs 11,500 crore in FY25, posting double-digit growth overall.