Panasonic targets 50% increase in flat-panel television sales

"Panasonic will focus on improving the basic performance of flat-panel televisions such as energy-saving and faster response time for moving pictures using the Neo PDPs and IPS Alpha LCD panels," says Panasonic Marketing Middle East (PMM) Deputy General Manager, Taeko Danno.

"At the same time, the TV line-ups will be expanded with the number of basic models," she adds.

Danno says that the electronics manufacturer has historically enjoyed strong loyal customer support which has continuously ensured double digit growth in the Middle East.

Panasonic believes that there is much scope for growth in the Middle East markets, in spite of the global economic slowdown. According to Danno, the company fully intends to capitalize on this potential for growth, and will continue focusing efforts on its customer-centric approach to reach its goal as the number one customer preferred brand in the region. Danno explains that market penetration of flat-panel TVs in this region is relatively low compared to, for example, the European markets. She says that the majority of consumers in the Middle East still own CRT TVs, which by implication present growth opportunities as these consumers begin to upgrade to flat-panels.

Panasonic's dedicated environmental consciousness by providing state-of-the-art technology that reduces carbon dioxide emissions, further places it at the forefront as a market leader. Panasonic's Viera TVs boast universal designs that are unique to this manufacturer and is the epitome of energy-saving and eco-friendly products. The company's plasma products, for example, are the only plasma products in the world that are truly lead-free.

Panasonic President Fumio Ohtsubo earlier this month told staff that the company needed to prepare for future growth by achieving bold structural reforms and strengthening the company's management structure. In anticipation of this growth, and as a business measure to counter the current downturn in world markets, Panasonic had announced a reduction of capital investment in two of its television panel plants to 445-billion yen.

"However, in spite of the economic downturn and sluggish demand, Panasonic still remains the number one plasma manufacturer in the world and a leading player in the LCD TV market,"

according to Danno.

Further boosting its industry leadership position, Panasonic signed a capital and business alliance agreement in the last quarter of 2008 with SANYO. In terms of the agreement, Panasonic aims to acquire the majority of voting rights of SANYO through a tender offer bid. As a result, a collaboration committee was established to investigate, among other things, maximising the effect of synergies between both companies with a focus on the energy-related businesses with high growth potential, in particular. The Energy Solutions business will be nurtured to become one of the pillars to support the company's future growth.