Electronics giant Panasonic diversifies into white goods market

PANASONIC HAS branched out from the home electronics market, making a move into the Irish white goods sector.

The company is starting small, with a few appliances in its range, concentrating on the top end of washing machine and fridge-freezer market. However, this may expand over time.

“We’re starting out in a fairly small way,” said Panasonic Ireland’s general manager Michael O’Shea. “It’s a new market, it’s different to anything we’ve been used to up to now. We’re not going to burst on to the market and start causing consternation among our competitors. It’s a process where we have to learn more about this market before we expand our business.”

Panasonic already sells its appliances, including washing machines and fridge-freezers, in the Japanese market. However, this is the first time that it will test the Irish market. “It’s a global strategy; we were concentrating on TVs, cameras, etc. Five years ago, Panasonic was not selling large appliances in Europe,” he said. “We’re probably a little bit slow off the mark, but now we’ve got around to it, we’re going to make a success of it.”

The company has opted to produce appliances that can be considered more eco-friendly, including what Mr O’Shea says is the only A++ rated fridge-freezer in the world. Part of the company’s strategy is to make products that use less energy and water than competitors – a particular issue in areas where water usage is metered.

“Consumers are more and more relating to those eco-issues,” Mr O’Shea said.

Panasonic is treading a path that others such as LG and Samsung have already tested. New markets have become increasingly important to companies as increased competition and the global downturn has affected markets.

“Companies like ourselves need to take advantage of every possible opportunity. White goods is a massive opportunity,” Mr O’Shea said.

“The fact that those two companies have come from a similar position as ourselves does show that you can be successful if the products are right.”