Panasonic Exits Refrigerator and Washing Machine Segments in India Amid Global Restructuring

Japanese consumer electronics giant Panasonic has announced its exit from the refrigerator and washing machine business in India, marking a significant shift in its operational strategy in the country. The move comes as part of a broader global restructuring effort aimed at consolidating the company’s focus on profitable and core segments.

The decision was driven by persistent losses in both the refrigerator and washing machine categories in the Indian market. Despite years of effort, Panasonic failed to gain a significant foothold in the highly competitive Indian white goods segment, which is dominated by established local and global brands.

According to market research firm GfK, Panasonic holds a minimal market share in both the refrigerator and washing machine categories in India, reflecting its struggle to make an impact in these sectors.

A Panasonic India spokesperson confirmed the exit and noted that the company would continue to focus on more profitable verticals such as air conditioners, smart home appliances, and B2B solutions.

“The decision is aligned with our global strategy to optimize our portfolio and focus on high-growth and high-margin areas. We will continue to strengthen our presence in India through innovation and investment in priority business segments,” the spokesperson said.

Industry analysts view Panasonic’s exit as a rational move, considering the stiff competition and wafer-thin margins in the Indian appliance market, particularly in the refrigerator and washing machine segments. The company’s exit will likely free up resources that can be redeployed to more strategic initiatives and growth opportunities.

Panasonic will continue to offer service support for its existing refrigerator and washing machine customers in India, ensuring after-sales care is not impacted.

This development marks a recalibration of Panasonic’s long-term India strategy, one that leans towards operational efficiency and alignment with global business goals.